Can Dogecoin help save meme coins from plummeting?

February 13, 2026

The meme coin sector has experienced a significant decline over the past year, with the MarketVector Meme Coin Index (MEMECOIN) plummeting by 67.65% in the span of 365 days. Dogecoin (DOGE), the largest token in this segment, has dropped below the $0.10 mark, indicating a lack of positive momentum.

The MEMECOIN index, which monitors the market capitalization of the top six meme coins, has been on a downward trend since July 2025. Currently, it is at a low point of -66.80% over the past year, marking a 75.81% decline from its launch on October 31, 2021. Year-to-date losses are already at 22.44%, signaling a challenging start to 2026 for these tokens.

Investors and traders are showing hesitancy in investing in meme coins, painting a bleak picture for the sector’s performance in the coming months. Despite the pullback in widely recognized assets like Bitcoin (BTC), Ethereum (ETH), and XRP (XRP), meme coins have not been able to keep up with the broader market.

Dogecoin, being the most prominent meme coin with spot ETFs linked to it, has significant brand recognition. However, this advantage has not translated into consistent price growth. The current trajectory of Dogecoin does not show any signs of significant momentum that could lift the entire meme coin market.

The overall cryptocurrency industry has been facing bearish sentiment, and this has impacted meme coins as well. Dogecoin’s potential to lead a market recovery hinges on external conditions that go beyond its own fundamentals.

In the midst of this challenging environment, Ethereum has also faced struggles, losing the $2,000 level amid prevailing bearish momentum. This further underscores the broader challenges facing the cryptocurrency market as a whole.