Weekly Meme Coin Data Report 2026-09-20 ~8 min read

Weekly Meme Coin Data Report — 9.14–9.20, 2026

By MemeFee Research · Published 2026-09-20

The eight-token board rose from $18.84B to $19.79B (+5.1%) on Sunday closes — seven of eight members green, WIF leading at +23.0% — even as the Fed hiked and the CLARITY Act failed. The rebound's engine was forced short covering, not new money.

Method first, because every claim below depends on it: prices are UTC daily closes from CoinMarketCap, CoinLore, Tindex, MarketBeat, Coin Gabbar and Best Crypto Checker history pages (linked in Sources); weekly change is close-to-close between the two Sunday boundaries, September 13 and September 20; the combined board cap is the sum of our eight members' tracker caps on those two closes. Unlike earlier issues, no coin in this report carries a provisional as-of date — all eight members published a September 13 and a September 20 close. No estimates, no interpolated numbers.

1. Core metrics — week-over-week

Metric	Sep 13	Sep 20	Change
Board combined market cap (8 tokens)	$18.84B	$19.79B	+5.1%
DOGE close	$0.0824	$0.0854	+3.6%
DOGE market cap	$12.85B	$13.31B	+3.6%
Board equal-weighted close change	—	—	+8.5% avg (7 green closes + SPX red)

Read the two change figures side by side and the week's shape appears. The cap-weighted board rose 5.1%; the equal-weighted average of the eight members' closes rose 8.5%. The 3.4-point gap is DOGE — 67% of the board's float and the week's third-smallest move (+3.6%). Small names ran, the anchor walked, and the index under-reported the move inside it.

2. The eight-token board — closes and weekly change

Coin	Sep 13 close	Week-end close	Weekly change
DOGE	$0.0824	$0.0854	+3.6%
SHIB	$0.0000051	$0.00000537	+5.3%
PEPE	$0.00000341	$0.00000393	+15.2%
PENGU	$0.00698	$0.00786	+12.6%
SPX	$0.4791	$0.4529	-5.5%
BONK	$0.0000027	$0.0000030	+11.1%
FLOKI	$0.00002473	$0.00002528	+2.2%
WIF	$0.1937	$0.2383	+23.0%

BONK and FLOKI are printed at the precision their sources publish: CoinLore rounds BONK to two significant figures ($0.0000027 → $0.0000030), so its weekly change should be read as roughly +11% rather than to a tenth of a point. FLOKI's September 13 baseline is derived from Coin Gabbar's own September 20 price and its stated +2.24% seven-day change, which reproduces to +2.2%.

3. What the shape of the week says

The move had a single ignition point. Six of the eight members were flat-to-lower through Thursday: DOGE closed September 17 at $0.08176 (its lowest close of the month), PEPE printed a September low, and PENGU sat at $0.00686 on September 15. Then September 18 and 19 delivered the week: PEPE +9.1% in one session, PENGU +9.1%, DOGE +6.9%, BONK +11.2%.
The reversal was not led by the biggest name. WIF (+23.0%) and PEPE (+15.2%) — the board's thinnest books — did the running, while DOGE (+3.6%) and FLOKI (+2.2%) trailed. That ordering is the fingerprint of a beta event rather than a broad re-rating.
SPX did the round trip in full. It was the only board member to fall (-5.5%), one week after being the only member to rise. It has given back the whole of its August squeeze: -16.0% from the August 30 close, the weakest September-to-date on the board.
Breadth was broad but the dispersion was wide. Seven of eight green is the board's widest positive breadth since the August 31 – September 6 week; the spread between best (+23.0%) and worst (-5.5%) was 28.5 points, against 7.9 points in the September 7–13 drawdown. Broad breadth with wide dispersion is a rotation signature, not a liquidity flood.

4. Four-week pattern: the V is now a W

Week	Board cap	Week change	Character
Aug 24–30	$20.11B (from $21.31B)	-5.6%	7 of 8 red; SPX only green
Aug 31 – Sep 6	$22.19B	+10.4%	8 of 8 green; BONK +22.2% led
Sep 7–13	$19.43B	-12.5%	7 of 8 red; WIF only green (live read)
Sep 14–20	$19.79B (from $18.84B)	+5.1%	7 of 8 green; WIF +23.0% led

Four weeks, four alternating directions, and a cap that has travelled $21.31B → $20.11B → $22.19B → $19.43B → $19.79B without ever holding a level for two consecutive weeks. The September 7–13 issue called it a failed V; the honest revision after this week is that it was never a V at all — it is a range with a wide band, roughly $18.8B to $22.2B, in which every directional signal has a two-week half-life.

5. Versus the broader market

Bitcoin closed the week at $81,159, up 5.6% and about 3% above its 50-week moving average near $78,786 — its first weekly close above that line in 45 weeks (Galaxy Research data via BigGo Finance). The board's +5.1% therefore tracked the anchor rather than beating it, which is a change of regime from September 7–13, when the board fell 12.5% into a flat Bitcoin tape. Total crypto market capitalisation ended near $2.80 trillion with BTC dominance close to 59% and the Crypto Fear & Greed Index at 71–73, its highest reading of the month (BigGo Finance). High beta participated in this rally instead of leading it — and 'participated' is the operative word.

One cross-check explains the week's internal ordering better than the price table does. Leverage, not cash, set the prices this week. CoinGlass put DOGE's 24-hour futures turnover near $1.68 billion against roughly $331 million of spot — about five to one — with $1.31 billion of open interest; PEPE ran near 4.8 to one ($443 million against $93 million) on open interest of roughly $262 million; SHIB was the outlier at about 2.7 to one on September 17 ($54.25 million against $19.99 million) with open interest sitting above its own turnover (KuCoin's September 20 wrap; The Crypto Basic, September 17). Sort the board by debt rather than by price and you get the same ranking as the weekly return column: the most levered names did the running, and the least levered one, SHIB, produced the flattest intraday path of the four.

6. Level watch

Level	Why it matters	Status at week-end
DOGE $0.09	200-day EMA; rejected repeatedly since mid-August	$0.0854 close — 5% below
SHIB $0.00000566	200-day MA; the ceiling every rally since July has failed at	$0.00000537 — 5% below
PEPE $0.00000380	The level the September 20 session had to hold to keep its breakout	$0.00000393 — holding
SPX $0.44	September range low; the last shelf before the July base	$0.4529 — 3% above
WIF $0.23	The early-September failure level, now reclaimed	$0.2383 — just above

7. What would change our read

A weekly close above $19.8B, then another. Four weeks of alternation means one green week is not a trend break; two would be the first evidence of one.
Spot Bitcoin ETF inflow above $500M for a full week. The week to September 18 delivered +$6.21M against a single +$433.03M session. If the biggest session is followed by three quiet ones again, positioning — not allocation — remains the marginal driver.
DOGE closing above its 200-day EMA near $0.09 for three sessions with futures turnover falling back toward spot. That pairing — a technical reclaim backed by cash rather than leverage — would be the first demand-side confirmation this month.
SPX failing to hold $0.44. Having declined in a week when seven of eight members rose, it is the board's cleanest idiosyncratic short — and the one name whose weakness cannot be explained by sector beta.

8. Methodology & data notes

Closing prices: CoinLore (DOGE, SHIB, PEPE, PENGU, SPX, BONK), Tindex (DOGE cross-check), MarketBeat (SPX cross-check), Coin Gabbar (FLOKI), Best Crypto Checker plus BSCN (WIF). Where two trackers disagree the discrepancy is stated in the market intelligence piece rather than averaged away.
Board cap = sum of member caps on each tracker's own figure. BONK's cap varies by up to ~15% across trackers because circulating-supply estimates differ; we compute close × ~88.8T consistently and say so.
The board is the eight largest meme assets by market capitalisation excluding wrapped/pegged duplicates: DOGE, SHIB, PEPE, PENGU, SPX, BONK, FLOKI, WIF. MemeCore (M), Pump.fun (PUMP) and Official Trump (TRUMP) now sit inside September's top ten by cap and are discussed in the news review; the board stays fixed so that week eight is comparable to week one.
All history pages are linked in Sources. Every figure in this report can be re-derived from them in minutes.

Sources

FAQ

Why does the report use closing prices instead of live prices?

Because closes are checkable forever. A live price matches only the second you read it; a UTC daily close on a public history page can be re-verified months later by anyone. Our weekly comparisons are all close-to-close for exactly that reason — and this issue's boundaries are both Sunday closes.

Why is the combined board cap not the whole meme sector?

Because 'the whole meme sector' depends on a tracker's inclusion rules. CoinDCX's September survey put the category at roughly $31.2 billion across some 6,270 tokens while MemeCore, Pump.fun and Trump tokens now sit inside its top ten — none of which are board members. Summing a fixed eight with dated closes is narrower but reproducible, so we label it 'board combined cap' everywhere and never call it a sector total.

The cap rose 5.1% but the equal-weighted average rose 8.5% — which is right?

Both, and the gap is the information. The cap-weighted figure is what a dollar spread across the board earned; the equal-weighted figure is what the average member did. A 3.4-point gap means the small names out-ran the anchor, which is what a rotation looks like; when the gap inverts, the anchor is carrying the index and breadth is thinner than it looks.

Is a 5.1% week after four alternating weeks just noise?

The alternation itself is the finding. Four weeks of -5.6%, +10.4%, -12.5% and +5.1% describe a market with a wide band and no persistent trend — which is why this report now publishes the four-week table rather than only the latest print. What would stop being noise is a second consecutive week in the same direction.

How do I verify the +5.1% myself?

Sum the eight members' caps on the September 13 closes (linked in Sources) — you should land near $18.84B — then repeat with the September 20 closes, landing near $19.79B. The deltas are the arithmetic of the report. If your sum differs materially, check which venue's cap you used for BONK, because that is the one figure with a ~15% tracker spread.