How come meme coins thriving in geopolitical havoc? On-chain stats tell the full story of top dog renaissance.
Hefty trading volumes & the renewed search interest in meme coins is driving a resurgence for the blue-chip members of this speculative asset class. Solana’s meme coin originator Bonk Coin (BONK) made a strong comeback last weekend, fetching 25.5% profits in 24 hours, nearing a phase favorable for a bigger breakthrough.
Who Let The Meme Coin Dogs Out?
This meme coin run comes along with Ethereum (ETH) decisively restoring the $3.1K resistance level on Monday. At the same time, major-cap Ethereum-based meme coins like Pepe Token (PEPE) & Shiba Inu (SHIB) whipped up over 35% gains, sparking up a volume-driven rally with ultra-high ETH price correlation.
Judging from Crypto Cred’s BONK price analysis, there’s more to it – the weekly charts point to a local top at $0.0000500. This price level hasn’t been touched since mid-November 2024, while BONK Coin’s price is still 79.7% below the all-time high inked over a year ago. Smaller-cap dog coins gained as well, most notably Floki Coin with a 40% upswing during the weekend.
Altseason Bussing Off Strong In 2026?
So, is the altcoin season really kicking off in the first weeks of the New Year? There’s no simple answer, as global wars, trading tariffs & miscellaneous geopolitical tensions dictate the crypto markets just as much as traditional stocks & commodities. However, Bitcoin’s been losing dominance against the altcoin market, mimicking the 2021 altcoin rally setup.
The United States President Donald Trump just hopped off the plane to charge Venezuela’s Nicolas Maduro in Manhattan after capturing the controversial politician in Caracas last weekend. Now, Donald Trump’s expected to slap Maduro with a decade-long jail sentence for indulging in Pablo Escobar-style ventures while simultaneously rigging the presidential elections.
$60 Billion Hidden Bitcoin Stash At Play
The dispute also involves a supposed $60 billion Bitcoin (BTC) stash hidden by the Venezuelan government, the United States intelligence claims. This puts the governmental reserves in the same category as BlackRock or MicroStrategy, two of the globe’s biggest institutional players.
Leaving politics aside, it’s fair to say that the market is still in moderate fear, with no particular rush to buy in among large-scale investors as well.
This ‘Wait-&-See’ mode paints a brighter picture than last month’s ‘extreme fear’ levels on Crypto’s Fear & Greed Index. Conversely, Bitcoin’s (BTC) build-up towards $95K faces fresh challenges of profit-taking, which could force meme coins to enter market correction before the next leg-up.
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