Meme coins collectively explode, with DOGE leading the rally strongly. Data shows that this veteran altcoin surged 10.37% yesterday, surpassing $0.1418, making it the most volatile among the top ten market cap tokens.

On-chain monitoring data reveals the behind-the-scenes movers—over the past 48 hours, large holders have accumulated a total of 4.8 billion DOGE, equivalent to approximately $71.8 million in real cash. Additionally, three large orders have swept up a total of 2.2 billion DOGE, costing $25 million. Such clear accumulation actions often precede price increases and are hard to ignore.

The technical outlook is also signaling something. DOGE has just broken out of a double bottom pattern, which is usually seen as a positive reversal signal. However, at the same time, the RSI on the 4-hour chart has soared to 76.9, indicating severe overbought conditions—short-term dips are a risk not to be underestimated.

Participation in the derivatives market is also heating up. Over the past 24 hours, open interest has increased by 2.42%. While not as aggressive as XRP, it still indicates growing trader enthusiasm.

More worth pondering is that the collective surge of Meme coins often reflects a shift in overall market risk appetite. When funds start flowing from blue-chip assets like BTC and ETH into altcoins, it suggests market sentiment is warming. The issue is that such coins’ rapid rise is usually accompanied by extreme volatility, especially for those with smaller market caps. Once the narrative cools, they may retreat quickly. For participants, seizing the opportunity while maintaining risk controls is essential.