According to on-chain analyst Ali Martinez, Dogecoin miners have offloaded 65 million tokens in the last 48 hours.

As Musk's government cost-cutting push dominates headlines, Doge lovers have mixed emotions about its close affiliation with the meme world’s top dog.

Memecoins are rallying, with Dogecoin (DOGE) up 10.3%, Shiba Inu (SHIB) gaining 5.5%, and Pepe (PEPE) rising 5.7% in the past 24 hours. The Official Trump (TRUMP) token surged 20.6%, while Bonk (BONK) climbed 11.7%. Overall, the memecoin market is seeing renewed momentum, with trading volumes soaring past $9.38 billion in the last 24 hours.