Observation : The king of memes, Dogecoin, has surpassed TRX in market cap, ranking #6. The top 5 are BTC, ETH, XRP, BNB, and SOL. Interestingly, Dogecoin is the only token in the top 10 by market cap that hasn’t returned to its previous all-time high since 2021. Today’s total contract holdings across the network show Dogecoin ranking #5, with a holding amount of $3.86 billion. Analysis: If Dogecoin wasn’t strong enough, it would’ve already dropped out of the top 10 by market cap. Ever since Dogecoin got its ETF and treasury reserves, it’s no longer just a simple meme coin—it’s transformed into a mainstream asset, stepping onto the center stage of Wall Street. Weak water flows in abundance, but I only take one ladle to drink.