Shiba Inu, PEPE, Dogecoin Lead Meme Coin Rally in Up to 65% Upside

• Meme coins have significantly outperformed the broader crypto market, signaling renewed risk-on sentiment.
• Leading meme tokens are driving the rally, with Dogecoin and Shiba Inu posting nearly 19% weekly gains, while Pepe has surged more than 65%.
• On-chain and technical indicators point to continued volatility and upside potential.

Meme coins have had a solid start to 2026, with top players like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) seeing strong gains in just the first five days. Both DOGE and SHIB have registered 19% gains on the weekly chart, while PEPE is up 65% during this period. This shows that meme cryptocurrencies are back in action, and this could be an eventful year for this sector.

After a dull performance in 2025, meme coins are once again back in action with a solid start to 2026. The sector’s total market capitalization has climbed more than 30% in the first five days of 2026.

Market data shows that meme coin capitalization surpassed $47 billion as of January 5, rising 7% in the past 24 hours alone. Trading volumes also surged to $9.2 billion, showing heightened activity and market participation.

The rally stands in contrast to the broader crypto market. The TOTAL3 index, which tracks cryptocurrencies excluding Bitcoin and Ethereum, has gained roughly 7.5% since January 1.

On the other hand, meme coins have outperformed majorly, which shows a tilt towards high-risk, community-driven assets. Analysts say the renewed momentum in meme coins could indicate that retail investors are re-entering the market.

Market data appears to support this shift in sentiment. According to Santiment, the rebound began soon after FUD (fear, unrest, and doubt) among retail traders peaked in late December. Moreover, Google Trends data shows a consistent rise in search interest for the term “meme coin” since January 1.

Some of the top meme coins contributed the most gains in the overall sector rally. Data shows that Dogecoin (DOGE) rose by 20%, while Shiba Inu (SHIB) advanced 18.9%. Pepe (PEPE) outperformed both, surging 65.6% over the same period.

Shiba Inu (SHIB) recorded a strong price move on Sunday, rising 13% as renewed momentum in the meme coin sector continues into early 2026.

According to data shared by Santiment, large holders maintain a dominant position in SHIB’s supply structure. The 10 largest wallets collectively control nearly 63% of the circulating supply.

Santiment’s data further shows that the single largest SHIB wallet alone holds roughly 41% of the total supply. These holdings are currently worth $3.3 billion. The concentration shows the strong influence of whale wallets as meme coin trading activity rotates rapidly between assets.

Pepe (PEPE) is showing early technical signs of a potential bullish breakout, as perprominent trader known as “Pepe Whale.” The analyst noted that PEPE has breached the upper boundary of a descending channel on the three-day chart. Such a move typically signals a shift in market structure, suggesting that bearish pressure may be weakening.

If the breakout is sustained, traders expect a new bullish wave to develop. It will set the stage for further upside momentum in the meme coin as broader speculative interest continues to build in early 2026.

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