Dogecoin (DOGE) and Shiba Inu (SHIB), the two classic 'meme coins,' have once again caught market attention. In the past 24 hours, there have been numerous large transfers on the blockchain for these two meme coins, with data showing that several 'whale' accounts are frequently moving assets, which has triggered significant market volatility.
In terms of price, Dogecoin surged by as much as 13.9%, breaking through the $0.2438 mark, with daily trading volume skyrocketing by 71.4%, and market capitalization soaring to $36.56 billion. Meanwhile, SHIB also rose by 4.29%, currently priced at $0.00001501, with daily trading volume increasing by nearly 39%, and market capitalization exceeding $8.8 billion.
Whale transfer activities are often seen as a precursor to market reversals or adjustments in fund flows. Some analysts believe that these large amounts of capital are currently just temporarily parked in meme coins, and the next step is likely to be directed towards newer, more technologically advanced, or narrative-rich altcoin assets, such as AI narrative-related tokens, Real World Assets (RWA) related tokens, or even the emerging Solana ecosystem projects.
"Whale activity is often not the endpoint, but rather the starting point for fund repositioning," noted an on-chain analyst. "Meme coins are rarely the final destination for these large sums of money; a larger trend may be at the next stop."
Despite the significant price increase, many analysts still remind investors to be cautious of potential risks. They state that this rebound is more driven by speculation and market sentiment than by changes in fundamental structure. The core logic of meme coins remains emotional speculation; in the absence of a sustained narrative and real application scenarios, these assets are highly susceptible to selling pressure.
The allure of meme coins: Is the frenzy still not over?
Looking back at the entire meme coin sector, it has consistently reshaped market perceptions of 'irrational exuberance' since the bull market in 2021. Dogecoin gained fame due to Musk's frequent endorsements, while SHIB attracted a large number of retail investors with its 'hundredfold myth.' However, at the same time, numerous emerging meme coins are also eyeing the market, diverting attention and funds that originally belonged to DOGE and SHIB.
It remains to be seen whether this current surge indicates an impending new round of explosions for meme coins. However, it is undeniable that whenever the market enters an emotional phase, meme coins are often the first to react and exhibit the most extreme volatility.
Key points to focus on next:
Are whale accounts continuing to concentrate trading in DOGE and SHIB?
Is there a large flow of funds into other untapped meme coins or low market cap altcoins?
Is market sentiment shifting towards widespread FOMO, leading to a surge of retail investors?
For short-term investors, this may be a quick arbitrage opportunity; but for medium to long-term players, recognizing the true narrative shift behind the meme frenzy may be the key to navigating bull and bear markets.