Meme Coin Madness: DOGE Leads Charge as Sector Hits $85B

The meme coin market is back with a vengeance, with Dogecoin (DOGE) spearheading a 32% weekly surge as the sector’s total market cap rockets to $85.28 billion—a 30-day high. But beneath the surface, a curious trend is unfolding: long-term holders are quietly cashing out while short-term traders fuel the rally.

DOGE’s Mixed Signals

📈 Price Action:

• $0.2743 (up 32% in a week)
• Trading at February highs
• Aroon Up at 100% (bullish momentum intact)

📉 On-Chain Reality:

• Liveliness metric rising (+0.14% since July 13)
• Long-term holders taking profits
• Short-term traders driving most buying

Technical Outlook: Where Next for DOGE?

🔹 Bullish Case:

• Trading in ascending parallel channel
• Break above $0.28 could target $0.33
• Strong retail FOMO supporting prices

🔸 Risks:

• If momentum fades, $0.23 support in play
• Heavy LTH selling could cap upside

Why Meme Coins Are Hot Again

1️⃣ Broader crypto rally lifting all boats
2️⃣ Retail trader resurgence
3️⃣ DOGE’s first-mover advantage in sector

As one analyst noted:

“When DOGE runs, the rest of meme land usually follows—but this time, the veterans are booking profits early.”