Dogecoin and Two Other Tokens Spark Meme Coin Season Hopes
Dogecoin's price action and on-chain data suggest it remains the key indicator for a potential meme coin season revival.Summary
Dogecoin (DOGE) is positioned as the primary signal for a potential return of meme coin season, as its recent 47% rally closely mirrored the broader meme coin market cap increase of 43%. Two closely correlated meme coins, BONK and Shiba Inu (SHIB), are already forming bullish breakout patterns (inverse head and shoulders for BONK, bullish flag for SHIB), but their success hinges on DOGE confirming its own bullish structure.
On-chain analysis indicates stronger hands are accumulating: short-term holders are exiting, while long-term holders and whales are increasing their DOGE exposure. Furthermore, Dogecoin's price is forming a cup and handle pattern on the 12-hour chart, with a key breakout level at $0.117 projecting a potential 50% rally toward $0.180 if confirmed. If Dogecoin holds support near $0.103 and breaks resistance, it could trigger broader momentum across the meme coin sector.
(Source：BeInCrypto)