Meme coin prices are taking a toll again today, presenting the top tokens like DOGE, SHIB, PEPE, and others struggling against the bears. This week, the volatility of the digital assets remained high due to multiple crypto-focused events and additional factors. As a result, multiple crashes formed, with insignificant recoveries, including today.
Meme Coin Prices Crash, Market Cap Slips by 8%
Amid today’s crypto market crash, meme-themed cryptocurrencies became a major target due to their volatility and limited demand. Not only did the prices of low-cap coins slip, but even popular meme coin like DOGE, PEPE, and SHIB plummeted, signaling a strong bearish downtrend, declining their market worth.
The CoinMarketCap analytics reveal that the meme-themed cryptos’ market cap has plummeted 8%, currently at $73.49 billion. However, in contrast, the trading volume is up, $12.54 billion at press time, with a 20% surge. This signals the sellers’ dominance in the crypto market.
- Source: CoinMarketCap, Meme Coins’ Market Cap
Here’s Why DOGE, SHIB, and PEPE Price Declines
DOGE, currently trading at $0.2054 with $30.88 billion in market capitalization, has lost nearly 8% of its value in 24 hours. This happened as Trump’s tariff updates and others’ fears drove a wide sell-off among token holders.
Recently, Trump has made significant changes to import tariffs across various nations. This includes the increase in Canada’s tariff from 25% to 35%, the imposition of a 25% tariff on India, and others. With this, the Dogecoin token price crashed below the key $0.20 support, triggering a cascading liquidation of $23.16 million in 24 hours.
- Source: CoinMarketCap, Dogecoin Price Chart
The same holds true for SHIB and PEPE as well, where the former is trading at $0.00001214 after a 7.2% crash and the latter’s worth declines to $0.00001049 after a 9.3% crash.
Both these coins faced sharp liquidation and lost their key support. Overall, the tariff threats and the Fed’s unchanged interest rates are playing the biggest role in the downtrend today.
- Source: CoinMarketCap, SHIB and PEPE Price Chart
Notably, while the crash still persists, the Bitcoin dominance rose to 61.2% as capital fled from volatile assets like meme coins to Bitcoin, crashing their prices. In addition, the Altcoin Season Index dropped to 35, signaling investors’ declining trust in the altcoin boom.
Frequently Asked Questions (FAQs)
The broader crypto market, including meme coins, is facing a brutal sell-off, resulting in the price crashes.
All meme coins are facing a sharp correction today, but low-cap ones are struggling more.
CoinMarketCap’s fear and greed index shows a decline in investor sentiment from greed to neutral.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.
When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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