Meme coins surge as retail traders dive back into the crypto market

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Dogecoin was one of the early movers in the bull run of 2021 and helped lead the charge up the charts for the crypto market as popular influencers like Elon Musk and Mark Cuban promoted the token to their followers. Followers are now hoping that this latest rally by the top meme coin will help spark a crypto market revival that could eventually lead to new highs.

While the re-emergence of demand from retail traders is a positive sign that sentiment in the crypto market is improving, Hughes suggested that further verification is needed from institutional investors who remain have thus far remained on the sidelines of the meme coin rally.

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