The altcoin market had a lively weekend, with Dogecoin taking the spotlight by leading a broad recovery, as investors weighed U.S. employment data and fresh ETF developments. Alongside Dogecoin, TRON, XRP, and Solana also posted notable gains.
According to CoinGecko, Dogecoin is currently trading at $0.22, up 5.1% over the past 24 hours. TRON gained 2.4% in the same period, while XRP rose 2%. This momentum came after Bitcoin’s muted performance last week, shifting investor attention toward altcoins.
Stephen Gregory, founder of crypto trading platform Vtrader, said the rebound in Dogecoin and TRON followed the market’s “overreaction” to Friday’s U.S. unemployment report. He believes an “alt-season is brewing,” despite recent sell-offs.
Beyond macroeconomic drivers, news of a dedicated Dogecoin exchange-traded fund (ETF) launched by REX Shares also fueled the meme coin’s weekend surge. Nate Geraci, President of NovaDius Wealth Management, commented on X: “I think we’re in for a wild next 2 months for crypto ETFs.”
Meanwhile, TRON was boosted by Justin Sun’s latest stunt with the WLFI token. Gregory noted that the move “generated headlines and ignited passion within the degen base of crypto.” On Friday, Sun made waves after his wallet was blacklisted by World Liberty Financial, a DeFi project backed by the Trump family, following a test deposit.
On the macroeconomic front, markets are currently pricing in more than a 90% chance of a Fed rate cut in September. Gregory suggested that strong retail participation could make the third quarter—typically a bearish period—a “fun setup” heading into year-end.
While many analysts expect a bullish fourth quarter for crypto, the short-term outlook remains uncertain as the U.S. economy flashes mixed signals: weak employment data on one side, and core inflation hovering above 3% on the other. This leaves the Federal Reserve in a tight spot, caught between its dual mandate of ensuring price stability and maximizing employment.
