#我在Gate广场过新年

DOGE Rebound--Flash in the Pan or Revival of the Old Meme?

After rebounding yesterday, Bitcoin indicated today that it will take a breather and fluctuate at high levels. The most eye-catching asset in the market is none other than DOGE, which surged 198% intraday, also driving other old meme coins higher. PEPE increased by 25%, while others like POPCAT, MOODENG, and PENGU also followed suit. Is this a hot speculative move during the rebound phase or a revival of the old meme coins? What other meme tokens are worth paying attention to?

1. Why did DOGE surge—ETF support and ample liquidity

DOGE has already been listed on two spot ETF products, making it easier for traditional financial institutions to buy DOGE. Coupled with recent sharp declines, cheap tokens attracted continuous capital inflows, providing solid support for the price. Meanwhile, the overall cryptocurrency market is warming up, with speculative funds shifting toward highly volatile assets. As a mainstream meme coin, DOGE’s community activity and airdrop effects have increased market stickiness, significantly amplifying buying pressure. From a technical perspective, the price broke through key moving average resistance levels, and the MACD indicator showed increasing momentum, further strengthening the short-term bullish trend.

2. Still in a bear market, meme coins find it hard to rise against the trend

Although meme coins experienced a broad rally today, it’s undeniable that the meme sector’s overall market cap is large. In the current bear market environment, it’s very difficult for a single coin to stand out and surge against the trend. Bitcoin is still in a rebound after a major decline, so capital is likely to "play a wave" of meme coins to create hotspots and attract investors. For meme coins that have already gained significant gains, it’s advisable not to chase the rally.

3. Chinese New Year of the Year of the Horse approaching, watch the performance of Chinese meme tokens

Tomorrow is the Spring Festival. Will the Year of the Horse bring a surge in Chinese meme tokens with "horse" in their names? Currently, "I’m Riding a Horse" is experiencing a mild upward trend. As the leader of this wave of Chinese meme tokens, "I’m Riding a Horse" underwent a substantial correction, dropping to $0.017 at its lowest point, then rebounded with volatility. Keep an eye on its performance during the Spring Festival holiday.