Meme Coin Market Soars as DOGE and PEPE Extend Weekly Gains

The meme coin market experienced a surge in value as Dogecoin (DOGE) and PEPE extended their weekly gains. According to CoinMarketCap data, DOGE traded near $0.088, up about 4% over 24 hours, while its market capitalization stood at $15.1 billion.

PEPE, on the other hand, remained up around 13% across seven days, with a market value of approximately $1.56 billion and daily trading volume above $300 million.

The meme coin market's rise was accompanied by increased derivatives activity, with Dogecoin futures volume reaching $1.68 billion over 24 hours, surpassing its spot volume of $331 million.

This imbalance between derivatives and spot activity suggests that leveraged traders are actively engaged in the market, which can amplify short-term price movements.