CoinMarketCap Weekly Report: Meme Coins Dip, DOGE Treasury Steals Spotlight

The meme coin sector kicked off September on shaky ground, with market cap sliding to $65.4 billion and weekly trading volume falling nearly 18%, according to CoinMarketCap.

Only two of the top 20 tokens managed to close the week in the green, underscoring the broader risk-off sentiment.

Despite the pullback, institutional headlines dominated the space. Dogecoin (DOGE) made waves with the creation of a $175 million treasury program, backed by CleanCore Solutions and House of Doge. The board will be chaired by Elon Musk’s attorney Alex Spiro, with heavyweight support from Pantera, GSR, and FalconX. The move mirrors Bitcoin’s treasury adoption playbook, though DOGE’s price held flat around $0.215 despite the news.

Platform competition also intensified. Pump.fun extended its lead with 16x more launches than rivals, handing out $2 million to creators in just 24 hours through its revamped fee model. Not to be outdone, Bonk.fun announced a partnership with World Liberty Financial, naming it the official USD1 Solana launchpad.

Individual tokens saw mixed fortunes. TROLL gained 8% after securing Trollface IP rights, while a whale selloff of $4.8 million worth of PEPE triggered a 5% dip. Avalanche stood out with a 66% jump in transaction activity, fueled by meme traders migrating onto the network.

On the winners’ list, MemeCore (M) soared 160%, Jelly-My-Jelly (JELLYJELLY) jumped 105%, and Purple Pepe (PURPE) rose 54%. DORA and LOFI rounded out the top gainers with double-digit rallies.

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Google search trends also hint at growing retail curiosity, with searches for “memecoin” climbing steadily from summer lows. Analysts caution, however, that while platform activity and institutional adoption are heating up, most leading meme tokens remain in correction territory — making risk management essential for traders chasing volatility.