The post THIS is how Dogecoin can lead the memecoin market comeback appeared on BitcoinEthereumNews.com.

Dogecoin is the most popular memecoin- and its price action could dictate the sector’s trends. On-chain metrics showed a buy signal for long-term DOGE investors. The memecoin market has shed 39.4% in market cap since the 9th of December. Over the past month, the price charts of most memecoins have been pointed downward only. Bitcoin’s [BTC] volatility around the $100k mark has affected the altcoin market, and in turn, the memes as well. Source: CoinMarketCap The launch of Official Trump [TRUMP] did little to alleviate this stress. Holders were tempted to sell their other meme holdings and buy TRUMP as its price shot higher rashly. After reaching an all-time high of $73.43 on the 19th of January, TRUMP too has been in a severe decline, falling 71% in two weeks. Source: TRUMP/USDT on TradingView The token has fallen below the short-term range it formed, and new lows were likely ahead. The A/D indicator did not inspire much confidence either. TRUMP’s price action could dissuade the public from buying memecoins in the near-future. Could Dogecoin rescue the meme market? Source: Santiment As the leading memecoin by market cap, Dogecoin [DOGE] will be a good indicator of the health of the sector at large. At press time, it had a +0.89 correlation with Shiba Inu [SHIB], which meant that the large memecoins’ performance is closely correlated with the leader’s. As the Santiment data above highlights, DOGE has consistently had a higher social dominance than SHIB or Pepe [PEPE]. Social dominance is the percentage share of a coin’s mentions in social media. Source: Santiment The on-chain metrics reflected bullishness. The dormant circulation did not show a flurry of token movement that generally precedes a wave of selling. The mean coin age has been rising over the past six weeks as well, even though…

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Filed under: News - @ February 2, 2025 1:23 pm