New Version, Worth Being Seen! #GateAPPRefreshExperience
🎁 Gate APP has been updated to the latest version v8.0.5. Share your authentic experience on Gate Square for a chance to win Gate-exclusive Christmas gift boxes and position experience vouchers.
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The Dogecoin (Dogecoin) and the entire Meme coin ecosystem have been a bit lively recently at the beginning of the year. Especially on January 2nd, you could clearly feel the market sentiment shifting — the entire sector suddenly became active from its previous dullness.
When the total market capitalization broke through $3.1 trillion, Dogecoin's price surged by over 10-12%, quickly climbing to the $0.13-$0.14 range. Not only DOGE, but PEPE skyrocketed by over 32%, and other Meme tokens like Mog, Popcat, SPX6900 also followed suit, with double-digit gains being common, and some even surpassing 30%. What does this sector-wide movement reflect behind the scenes?
On one hand, it’s a classic phenomenon of capital reallocation at the start of the year. After the tax-loss selling wave in December ended, many viewed the lows as a buying opportunity. Plus, the risk appetite in the entire crypto market was rising — on that day, the three major US stock indices were also up, with mainstream coins like Bitcoin and Ethereum climbing higher, and the excess capital naturally flowed into high-beta Meme coins.
On the other hand, from on-chain data, Dogecoin’s story is more specific. Large wallet addresses (those holding millions of dollars worth of DOGE) have resumed buying activity. The total locked value within 24 hours surged to over $15 million — this number indicates that on-chain activity is indeed warming up, with big funds making their stance clear through action.
In simple terms, this wave isn’t baseless hype; from capital flow, market sentiment, to on-chain signals, all point in the same direction: the heat around Meme coins is truly reigniting.