Meme Coin Market Surges on DOGE and PEPE Gains

The meme coin market experienced a significant surge as Dogecoin (DOGE) and PEPE extended their recent gains.

According to CoinMarketCap data, DOGE traded near $0.088 at press time, up about 4% over the past 24 hours. Its market capitalization stood at $15.1 billion, making it one of the largest meme tokens by value.

PEPE, on the other hand, showed a stronger weekly percentage move, gaining around 13% in the past seven days. Its market capitalization was near $1.56 billion, while daily trading volume remained above $300 million.

The increased trading activity and derivatives exposure in DOGE and PEPE suggest that leveraged traders are active in these markets. However, this also raises sensitivity to liquidations if the price moves rapidly against crowded positions.