The Meme Coin King Beyond the Cycle: Why DOGE Dominates the Crypto Market

Amid the fluctuations in the cryptocurrency market driven by the Trump effect, the biggest beneficiary among Meme coins is undoubtedly DOGE. According to data from CoinGecko, DOGE has rapidly expanded its market capitalization and now holds an important position in the crypto market with a circulating market cap of $17.20 billion. Originally born out of playful fun, how did this Meme coin become a industry leader?

Why DOGE Became the Icon of Meme Coins

Undoubtedly, the most widely adopted and recognized Meme coin is DOGE. Its success is not only due to its long history but also supported by industry trendsetters like Musk and its simple, primitive meme origins.

Launched on December 8, 2013, by Jackson Palmer and Billy Marcus, DOGE was created as a cryptocurrency featuring the Shiba Inu dog from internet culture, Kabosu. Since then, DOGE has persisted through four crypto market cycles, and in the current Meme coin supercycle, it remains the only major Meme coin in the top 10.

Embodying one of the “3B principles” of advertising—Beast (animal)—DOGE is often the first Meme coin new entrants encounter. If Bitcoin is the gateway to crypto assets, DOGE can be seen as the “key” to the world of Meme coins. Search data from Google also shows that new users most frequently search for DOGE first.

Breaking Market Peaks: How High Can DOGE’s Market Cap Rise?

Historically, DOGE’s peak market cap reached about $88.8 billion in early May 2021, with its price soaring to $0.73. Compared to other projects valued in hundreds of millions or billions of dollars, this achievement as a Meme coin is a industry miracle.

In the current new crypto cycle, the birth of President Trump and Musk’s political involvement are seen as positive catalysts, with potential for DOGE to surpass its previous peak. A market cap of $100 billion is not an unreachable goal. Additionally, other Meme projects like PEPE ($1.87B), FLOKI ($307.12M), and BONK ($572.58M) are targeting DOGE, and the overall Meme coin market cap could expand to $300–$500 billion.

What’s important here is that DOGE has proven it is not just a Meme coin but can compete on par with “valuable projects.” This message is especially crucial for new investors, as it builds faith and trust.

DOGE’s Role in Shaping the Future of the Meme Coin Sector

DOGE is called the “weathervane” of the Meme sector because it has recently led the market recovery. On November 2, Robinhood Crypto EU announced support for DOGE deposits and withdrawals, and immediately after Trump’s election victory, savvy investors rapidly bought 6.01 million DOGE, realizing a total profit of $2.045 million.

At the same time, DOGE broke through $0.2, rising 19.18% in 24 hours. It continued to climb, with market cap jumping from the previous $16 billion to the current $17.20 billion. Bloomberg reported that “Trump’s victory sparked crypto market speculation, with DOGE rising about 50% over the past five days, outperforming Bitcoin.”

Along with DOGE’s rise, other dog-themed Meme coins have also surged, demonstrating DOGE’s influence as a market leader.

The Future of Meme Coins: Four Drivers of Market Expansion

The development of the Meme sector depends on four main drivers:

Policy Support: The Trump administration’s rise is expected to foster a “crypto-friendly government.” According to Galaxy, favorable measures for the crypto industry could be introduced soon under Trump. Research from Standard Chartered Bank suggests that with the Republican Party’s landslide victory in the US, the total crypto market cap could swell to $10 trillion by the end of 2026.

Capital Flows: Continued inflows into Bitcoin spot ETFs, with BlackRock’s IBIT (Bitcoin spot ETF) surpassing its IAU (gold ETF) in just 10 months, indicate growing institutional interest. Ongoing Federal Reserve stimulus measures are likely to channel more funds into the crypto market, especially into Meme sectors.

Information Propagation: Musk, known as the “Godfather of DOGE,” naturally generates high global interest. Search engines like Google, as well as AI platforms like Grok and ChatGPT, facilitate the continuous creation and dissemination of Meme coin information.

Practical Use Cases: TikTok influencer Kaba has showcased charitable donations using Meme coins like MOODENG (currently $60.60M), and Tesla’s support for DOGE payments further expands its utility. Additionally, the development of cat-themed Meme coins in the Solana ecosystem, such as MEW ($58.12M) and WEN ($5.89M), suggests further growth potential.

Summary: The Meme Coin Market Sets Sail with DOGE

The origin of DOGE’s ancestor, the Shiba Inu Kabosu, is not just a product of internet culture but a symbol of a new category emerging in the crypto market. After Trump’s inauguration, Musk’s Tesla and SpaceX are expected to gain more government contracts and policy support.

At that time, DOGE will truly begin its “journey into space,” leading countless subsequent Meme coins and embarking on a voyage toward distant stars and vast oceans.