- Dogecoin, Pepe, and dogwifhat saw major gains, showing a renewed interest in memecoins.
- Despite price dips, bullish sentiment remains strong across most top-performing meme tokens this week.
The memecoin market has come back to life.
Over the past week, several tokens in the sector have posted eye-watering gains, reigniting speculative fervor and social buzz across crypto circles.
At the center of this revival stands Dogecoin [DOGE], which is also seeing a sharp rise in Futures Open Interest — a sign that traders are once again betting big on the first memecoin.
Open Interest soars despite price cooldown
Dogecoin may have eased off its recent highs, but derivatives traders are showing no signs of backing down.
Futures Open Interest for DOGE has surged by over 63% in just a week, climbing from $989 million to $1.62 billion, according to Glassnode data.
Source: Glassnode
This spike comes even as DOGE’s price faces short-term resistance — hinting at a growing decoupling between price action and trader positioning.
The divergence shows elevated speculative appetite and suggests that traders are still betting on a larger move ahead.
Bulls show exhaustion
After a strong rally that pushed Dogecoin to a local high near $0.25, price action had begun to flatten out.
The daily RSI hovered around 69 at press time, just below the overbought threshold, signaling waning bullish momentum. At the same time, OBV dipped slightly, reflecting reduced buying pressure.
Source: TradingView
While DOGE still holds above the $0.22 support zone, the lack of follow-through hints at hesitation among buyers.
A break above $0.25 could reignite upside momentum, but failure to do so may lead to a short-term correction — especially if Open Interest remains high without matching volume strength.
Memecoins this week: A mixed bag
While Dogecoin led with a weekly gain of 37.11%, others like Pepe [PEPE] and dogwifhat [WIF] outshined in terms of sheer percentage growth.
Shiba Inu [SHIB] and Bonk [BONK] also posted solid weekly returns of 24.60% and 36.23%, respectively.
Source: CoinMarketCap
However, not all tokens fared equally — Fartcoin [FARTCOIN] saw a modest 18.80% rise, while Official Trump [TRUMP] and WIF struggled with higher daily losses.
There is selective optimism across memecoins, with newer entrants catching up fast even as legacy tokens like DOGE face consolidation.