At the beginning of the year, enthusiasm in the crypto circle was high, and the Meme coin sector suddenly became a hot trend across the board. Popular coins like DOGE, PEPE, FLOKI, and others led the rally, with the market expressing a certain consensus through real money—when the market lacks a clear main theme, the most talked-about narratives often attract all attention.

This phenomenon warrants in-depth observation. Each wave of Meme coin surges is like an early warning sign of market sentiment. Retail investors and hot money are starting to take risks again, which usually indicates a rebound in risk appetite. However, data shows that the driving force behind this rally is not just spot buying—open interest in futures contracts is skyrocketing, and a large amount of leveraged funds are pouring in. This means volatility is being amplified exponentially; while the rally is fierce, a reversal could lead to equally sharp declines.

In the world of Memes, stories always outweigh fundamentals. A bold price target or a provocative statement that ignites the community is enough to spark an entire market movement. That’s why certain high-profile figures’ every move can sway the market—they inject fuel into this narrative universe with each mention.

Summarizing three key observations: First, this rally reflects an increase in market sentiment; second, the massive participation of leveraged funds has elevated risk; third, narrative consensus has become the main driver of prices.

Which Meme coin do you think is the most promising in this wave? Share your thoughts in the comments.