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The meme coin market exploded back into the spotlight on May 9, 2025, as PEPE, Dogecoin (DOGE), and Shiba Inu (SHIB) led a fierce rally, igniting nostalgia, FOMO, and fresh investor appetite across the crypto space. This unexpected yet calculated bullish reversal has shifted sentiment in a sector often written off as purely speculative.
Fueled by Bitcoin’s resurgence above $100,000, meme tokens are now flexing once again — not just as jokes, but as high-octane instruments of market momentum.
PEPE Steals the Show With 30% Intraday Explosion
PEPE Coin, the frog-faced phenom that shocked markets in 2023, led the charge with an eye-popping 30.2% surge in 24 hours. The token, now trading at $0.00000238, saw a 240% spike in trading volume, clocking $2.36 billion, and open interest rocketed to $531 million — its highest level since last year’s all-time high.
“This isn’t just a pump — it’s a liquidity storm,” said analyst Jared King. “PEPE is seeing institutional-sized moves in a meme coin wrapper.”
Investor excitement was further fueled by whale wallets entering long positions, coupled with a rising number of CEX listings in Latin America and Asia.
Dogecoin Reclaims Key Trendline With 8% Gain
DOGE, the grandfather of meme coins, wasn’t far behind. The token rose 8.4% to reach $0.182, breaking a major descending trendline resistance that had kept bulls in check for months. Volume jumped 144% to $1.8 billion, while market cap rose past the $30 billion mark once again.
DOGE’s price strength is bolstered by:
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Renewed retail interest on Robinhood
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X (formerly Twitter) tipping integrations
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Wallet activity from long-dormant addresses
“Dogecoin is more than a meme now,” said on-chain analyst Priya Malhotra. “It’s a market signal. When DOGE moves, traders pay attention.”
SHIB Breaks Above 50-Day SMA With Bullish Volume
Shiba Inu (SHIB) added 8.1% to its price, reaching $0.0000273, while its trading volume soared 140% to $383 million. The rally pushed SHIB above its 50-day simple moving average (SMA) — a key technical breakout level — suggesting further upside potential.
SHIB’s momentum also coincides with:
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Burn rate acceleration in the Shibarium ecosystem
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DeFi integration updates
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Growing TVL (Total Value Locked) across SHIB-linked dApps
SHIB’s market cap now stands at $8.62 billion, with daily unique wallet transactions on the rise, according to Etherscan.
Full Meme Coin Market Overview
The May 9 rally wasn’t limited to PEPE, DOGE, and SHIB. The entire meme coin sector surged:
| Meme Coin | 24H % Change | Price | 24H Volume |
|---|---|---|---|
| PEPE | +30.2% | $0.00000238 | $2.36B |
| DOGE | +8.4% | $0.182 | $1.8B |
| SHIB | +8.1% | $0.0000273 | $383M |
| BRETT | +30.0% | $0.000188 | $112M |
| FLOKI | +15.7% | $0.000119 | $224M |
| PENGU | +18.2% | $0.0043 | $68M |
| TRUMP | +20.5% | $0.00172 | $54M |
What Triggered the Meme Coins Rally?
Analysts trace the meme coins’ pump to a confluence of bullish signals:
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Bitcoin’s Breakout Above $100K
BTC crossing six figures rekindled risk-on appetite across crypto. -
Short Liquidations on Altcoins
Over $800 million in liquidations swept short positions, freeing up capital. -
Increased CEX Listings and Retail Entry
New listings and country-specific demand (particularly in Turkey and India) pushed trading volume to yearly highs. -
Social Media Momentum
Trending hashtags like #PEPEonFire and #SHIBArmyReturns added viral fuel.
“Every bull cycle has a meme moment,” said trader Elena Cortes. “This might be the first of 2025.”
Market Outlook: Short-Term Hype or Structural Shift?
While meme coin rallies are historically volatile, some analysts argue that 2025 could mark a more mature evolution in the space. Institutional players are now cautiously engaging with meme coin derivatives, and projects like SHIB and FLOKI are expanding into real DeFi utility.
However, caution still lingers. Whale tracking platforms like Lookonchain and Arkham show large token inflows to exchanges — a potential signal of profit-taking ahead.
“If meme coins want to sustain this run, they’ll need utility and ecosystem backing,” said crypto strategist Ahmed Naseer. “Otherwise, it’s musical chairs.”
What’s Next for PEPE, DOGE, SHIB?
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PEPE: Eyes are on the $0.000003 resistance. A break above may signal a move toward last year’s all-time high.
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DOGE: If it holds above $0.185, traders anticipate a test of the $0.20 psychological level.
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SHIB: Momentum indicators support a short-term push to $0.00003, especially if Shibarium upgrades proceed on schedule.
FAQs
Why did meme coins rally on May 9, 2025?
Bitcoin broke above $100K, triggering a wave of bullish sentiment, short liquidations, and renewed retail speculation in meme coins.
Is this rally sustainable?
Short-term gains are often hype-driven, but long-term sustainability depends on utility, ecosystem upgrades, and institutional adoption.
What’s next for PEPE Coin?
PEPE could test higher resistance if trading volume and whale activity remain strong, but it faces overhead resistance at $0.000003.
Is SHIB still burning tokens?
Yes. Shibarium’s burn mechanisms continue to reduce circulating supply, helping drive price momentum.
Can DOGE reclaim $0.20 soon?
If current volume and technical momentum hold, DOGE may test the $0.20 mark — a key psychological barrier.
Glossary of Key Terms
PEPE Coin: A popular meme cryptocurrency themed around the internet frog meme, known for high volatility and community-driven pumps.
DOGE (Dogecoin): The original meme coin created in 2013 as a joke, now with real market presence and high retail adoption.
SHIB (Shiba Inu): An Ethereum-based meme coin launched as a “Dogecoin killer,” with its own DeFi ecosystem (Shibarium).
Meme Coin: A cryptocurrency inspired by internet culture or jokes, often community-driven and highly speculative.
Bullish Reversal: A market trend where prices shift from downward to upward movement, signaling renewed buying interest.
Open Interest: The total number of active derivative contracts (futures or options), used to measure market engagement.
Trendline Resistance: A technical analysis term referring to price levels that an asset struggles to move above.
Shibarium: A Layer-2 blockchain built by the SHIB team to enhance scalability and reduce transaction costs.
Sources and References
CoinMarketCap – PEPE, SHIB, DOGE Live Prices
