Dogecoin (DOGE) leads meme crypto comeback as the segment sends mixed signals to bulls

As the cryptocurrency segment slowly recovers from yesterday's devastating drop, the meme cryptos segment sends mixed signals to bulls.

Cryptocurrency prices have been mixed in recent trading, with some meme cryptos continuing to recover while others have stalled.

Dogecoin (DOGE) is the leading meme crypto in the comeback, surging more than 12% in hours of trading to hit highs of $0.208 on major spot trading platforms. The coin is now trading hands at around $0.194, with volumes on FTX and Binance also surging.

Yesterday, Dogecoin erased all gains of the Q4 2024 rally as it dipped below the $0.15 level, which had not been seen since the U.S. elections on November 5.

Many other mainstream meme coins are still in the red today, with Pepe falling by 4.6% and Shiba Inu down 1.3%. Shiba Inu's capitalization has now fallen below the $8 billion mark.

Bonk is the second major stablecoin in the green, adding 0.5% to trade at rates above $0.00001326. Bonk's capitalization has returned to 10-digit zones.

The capitalization indicators of meme-associated segments are down by 2-3%, compared to a 1.2% rise in the market benchmark.

FLOKI has lost 0.7% of its market capitalization and been replaced by Tezos (XTZ) as the 100th largest crypto.

In other news, Layer-1 blockchains Hedera (HBAR) and Celestia (TIA) are outperforming, with 15.7% and 14.5% added overnight.

Sonic, the successor of Fantom, has also added 8.3%.

As markets are sending mixed signals, both bears and bulls are struggling today. Liquidations in the last 24 hours have exceeded $250 million, with long and short positions responsible for 51% and 49% of this volume.