Crypto Roundup: DOGE and ENA Climb as Bitcoin Risks Persist

Altcoins such as DOGE and SUI are leading a broader memecoin rebound, with strong retail and institutional activity supporting the sector.

Most cryptocurrencies traded higher over the past 24 hours. Ethena’s ENA and Dogecoin (DOGE) extended double-digit gains, while the CoinDesk 20 Index rose 2%, with 16 tokens advancing.

Analysts urge caution. Alex Kuptsikevich, chief market analyst at FxPro, said, “Crypto market capitalization remains below its 50-day moving average, reflecting ongoing bearish pressure. Fed rate-cut expectations provide support, but weak economic conditions continue to weigh on retail traders, the primary price drivers.”

Futures and Open Interest Trends
DOGE, SUI, and HYPE saw notable growth in futures open interest, with DOGE OI reaching 16.88 billion tokens, its highest since July 31, confirming a 7.5% price surge and a breakout from mid-July descending trendlines. BTC OI remains in the 270K–290K range, while ETH futures OI fell to 1.87 million ETH. Deribit options show bullish bias in XRP and SOL, while BTC and ETH indicate downside caution.

Memecoin Sector Strength
Solana-based Bonk (BONK) jumped nearly 7%, DOGE climbed over 7%, and newer tokens like SPX6900 (SPX) and Pump.fun (PUMP) outperformed the altcoin market. The CoinDesk Meme Index (CDMEME) gained 2.2%, surpassing the CoinDesk 20 Index. MemeCore (M), a memecoin-focused Layer-1 blockchain, surged 164% in seven days, reigniting sector optimism.

Total crypto market capitalization rose 0.57% to $3.84 trillion, with BTC and ETH moving off key support levels, supporting further upside for altcoins and memecoins.