Meme coins rally as Dogecoin and PEPE lead gains at start of 2026

Dogecoin and PEPE led a sharp meme-coin bounce as 2026 began, with traders talking up a return of “meme season.” Dogecoin rose about 11% over 24 hours, while PEPE gained roughly 17% after a stronger intraday push. The broader meme market showed strength: CoinGecko’s GMCI Meme Index put market value at about $33.8 billion and 24-hour trading volume near $5.9 billion, suggesting the move was not limited to a single token.

Dog-themed coins were largely higher. Shiba Inu climbed about 8%, Solana’s Bonk added nearly 11%, and Floki rose close to 10%. Smaller caps outpaced the majors in some cases: Mog Coin was up about 14% on the day and roughly 37% over seven days, while Popcat gained nearly 9% on the day and is up more than 17% on the week.

Traders pointed to PEPE’s breakout and chart setups that can draw momentum flows from large caps into meme coins once liquidity returns. Analysts say memes tend to benefit when bitcoin is range bound, liquidity is uneven after holidays, and traders seek high‑beta ways to express risk without a clear macro catalyst.

That dynamic can be fragile. Short-term bursts are often self-reinforcing but can unwind quickly if positioning becomes crowded, spot demand thins, or bitcoin slips, because leverage that amplifies gains can force rapid de-risking. Observers use a “meme season” index to track how many large meme tokens are outperforming bitcoin; a rising reading usually signals rotation into higher‑risk parts of the market.

Key Topics

Crypto, Dogecoin, Pepe, Coingecko, Gmci Meme Index, Shiba Inu