Meme Sector Lags Behind Majors as Dogecoin Struggles to Keep Pace

The crypto market is currently seeing a rally, with Ethereum up 11.7% on the week and Solana up 10%. However, in contrast to the majors, the meme sector has been lagging behind, with Dogecoin (DOGE) only managing a 4.17% gain this week.

This is not unusual, as historically, when the majors run first, the meme majors eventually catch up later. Dogecoin's large market cap and high liquidity make it an attractive candidate for rotation, but it has been unable to stay bid on a broadly green day, indicating thin conviction.

Meanwhile, Shiba Inu (SHIB) remains in second place by community size, with a $2.5 billion base that has survived every drawdown since 2021. However, its low turnover rate of under 3% is a warning sign that the market may be ignoring it for now.

Pepe (PEPE), on the other hand, is experiencing genuine rotation, with a volume ratio of 18.5% and a weekly gain of 15.67%. It has no ecosystem story to fall back on, relying purely on attention, which can be an unstable asset in crypto.