In recent days, the hot topic in the crypto circle has been Dogecoin. Starting from its low point at the beginning of the year, DOGE has surged nearly 30% in just three days, hitting a new high for the year. But an even more interesting phenomenon is that this rally is not just limited to DOGE—other popular meme coins like SHIB and PEPE are also soaring collectively, making the meme coin market the hottest track in this cycle.

Why does such a correlated rally occur? First, from a fundamental perspective, after BTC and ETH, the market bellwethers, stabilize somewhat, funds seeking high returns begin shifting toward riskier, more volatile assets. As the most well-known meme coin, DOGE naturally becomes the first choice. On-chain data also confirms this—over the past few days, large investors have been quietly accumulating, and discussions about DOGE on social media have surged dramatically.

However, it’s important to stay clear-headed: the price movements of these kinds of coins often follow a rollercoaster pattern. When prices rise, everyone chases; when they fall, they collapse instantly. Just last week, many retail investors got caught chasing high prices, and it’s unlikely this cycle won’t repeat itself. From a fundamental standpoint, Dogecoin, born from community consensus, lacks real-world application support, which raises concerns about its sustainability. There is room for short-term speculation, but more often than not, it’s a market driven by emotion and hype.

You can participate if you want, but be sure to control your risk exposure. After all, no one can predict how far this rally will go. The key is to protect your principal so you’ll have capital to join the next opportunity.