As the meme coin market reaches a turning point, the actions of the leaders are influencing the market.

Recently, the overall meme coin market has reached a critical juncture. Many tokens are approaching previous resistance levels, with some already breaking through. Market participants are increasingly cautious about a potential correction phase.

What Divides ETH and DOGE: The Bright and Dark Sides

Interestingly, the price movements of ETH and DOGE, which should be at similar stages, are diverging significantly. ETH has gained over 16% on a weekly basis, demonstrating considerable rebound strength. Meanwhile, DOGE has achieved a weekly increase of over 20%, outperforming other meme coins by a large margin.

This gap is not merely market whimsy but suggests deeper underlying factors. The total market capitalization of meme coins has risen by 3% to reach $351 billion, but DOGE’s momentum far exceeds this average growth rate.

Political Influence Moving the Market

The extraordinary performance of DOGE is backed by continuous support from Elon Musk and his expanding political presence. After the election results, large DOGE holders’ profits have surpassed $800 million. The current sharp rise in DOGE’s price reflects changes in market sentiment driven by these external factors.

Meanwhile, Bitcoin is currently priced at $91.92K, still in a correction phase from its previous peak of $126.08K. With Bitcoin’s direction still uncertain, the movement of altcoins like DOGE suggests that market participants are preparing for different scenarios.

Outlook for Next Week

Looking at the current market structure, risk-seeking capital continues to flow into meme coins. Addresses with profits exceeding $3 million are regaining confidence, possibly forming new positions.

As Bitcoin continues to challenge further resistance levels, price movements in the meme coin sector may become even more complex. The next turning point in the market will depend on the direction indicated by the Bitcoin-dominant sector.