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COMMENTARY: DOGE’s swift but not-so-terrible sword

  • Meme coins Dogecoin, Shiba Inu, Pepe, and the MELANIA token surged recently, with Bitcoin surpassing $100,000 on major exchanges in early May 2025.
  • The MELANIA token attracted attention after a group of traders allegedly bought millions and gained nearly $100 million by selling at its peak shortly after launch.
  • Despite the rally, the top meme coins faced slight corrections, and independent reports revealed widespread fraudulent schemes involving pump-and-dumps and rug pulls on Solana-based launchpads.
  • On May 9, Dogecoin gained 10%, Shiba Inu 9%, and Pepe 23%, with technical indicators suggesting further upward momentum and resistance levels testing in the near term.
  • The cryptocurrency market’s mixed signals and persistent fraud concerns imply that meme coin rallies may remain volatile, depending on Bitcoin’s trajectory and regulatory developments.
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101 Blockchains broke the news in on Friday, May 9, 2025.
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