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Dogecoin and PEPE soar 25% amid memecoin rally in early 2026.
Dogecoin and PEPE led the sharp rise in memecoins on Friday, as traders eagerly discussed the "meme season" ahead of 2026.
Dogecoin is up about 11% in 24 hours, while PEPE is up about 17% after a stronger intraday rally.
The cryptocurrency meme basket is also gaining momentum overall. CoinGecko's GMCI Meme Index showed a market capitalization of about $33.8 billion with a 24-hour trading volume of about $5.9 billion, suggesting that the rally isn't just a single token.
Meanwhile, the dog-themed meme basket is seeing gains across the board. Following Dogecoin, Shiba Inu rose 8%, Solana's Bonk nearly 11%, and Floki rose nearly 10%.
The move wasn't limited to large companies, and smaller-cap stocks rose faster: Mog Coin rose about 14% on the day and about 37% over the seven-day period, while Popcat rose nearly 9% and more than 17% over the week.
Traders on X pointed to a sharp breakout in PEPE, with some charts suggesting momentum traders are chasing a familiar pattern of speculative flows from large companies into meme coins as soon as liquidity is restored.