Dogecoin spikes 11%, pepe jumps 25% as 2026 starts with a bang for memecoins

Dogecoin and pepe spearheaded a significant rally in the meme coin sector as 2026 began, with Dogecoin up about 11% and pepe rising roughly 17% in 24 hours. This broader trend is supported by the GMCI Meme Index, which showed a market value of $33.8 billion and $5.9 billion in trading volume. Other dog-themed coins like Shiba Inu and Bonk also saw gains, alongside smaller caps like Mog Coin. Analysts suggest this surge is driven by traders seeking high-beta assets amid Bitcoin's range-bound movement and uneven post-holiday liquidity, as meme coins move fast and attract momentum flows without needing fundamental narratives. However, the article cautions that these bursts are often short-lived and fragile; meme coins can unwind quickly if leverage becomes crowded or Bitcoin declines, serving as a short-term temperature check on speculative appetite.

(Source：CoinDesk)