Even Dogecoin Couldn't Escape the 'Fearful February'... Is a Winter Coming for Meme Coins?
Even Dogecoin Couldn't Escape the 'Fearful February'... Is a Winter Coming for Meme Coins?
[Crypto Market Update] Meme Coins in a ‘Bloodbath’... Doge, Shiba, and Pepe Slide While ‘Pippin’ Surges 27% Alone
The disappearance of expectations for early interest rate cuts following strong U.S. employment data, combined with Bitcoin (BTC) retreating to the $67,000 level, has dealt a direct blow to the highly volatile meme coin market. As “extreme fear” dominates the broader market, major meme coins led by Dogecoin are showing uniform weakness, while some newly launched tokens have posted solo surges, highlighting sharp market divergence.
As of 7:42 a.m. KST on the 12th, data from CoinMarketCap shows that Dogecoin (DOGE), the largest meme coin by market capitalization, was trading at $0.09143, down 1.59% over the past 24 hours. Its weekly decline reached 11.79%, reflecting a significant contraction in investor sentiment.
Shiba Inu (SHIB), the second-largest by market cap, fell 1.47% from the previous day to $0.00005935, while Pepe (PEPE) dropped 1.56% to $0.000003600. Solana-based Bonk (BONK) and Floki (FLOKI) also recorded weekly losses of around 14%, struggling amid the downturn. In particular, the politically themed meme coin Trump (TRUMP) edged up 0.01% on the day but plunged 21.33% over the week, signaling that its speculative bubble is rapidly deflating.
◇ ‘Pippin’ Rallies Alone Amid Downturn... Speculative Demand Concentrates
While most meme coins have failed to gain traction alongside Bitcoin’s decline, an unusual concentration of speculative capital into select alt meme coins has been observed. Pippin (PIPPIN) surged 27.39% over the past 24 hours to $0.4976, drawing considerable market attention. Its weekly gain reached an astonishing 183.50%, suggesting that aggressive investors seeking short-term profits have rotated into newly launched tokens despite the broader downturn. Meanwhile, Memecore (M) also managed a modest 4.02% increase.
◇ ‘Fear Index at 9’... Heightened Volatility Warning for Meme Coins
The crypto market’s Fear and Greed Index currently stands at “9,” indicating that investor sentiment has hit rock bottom. This is a classic risk-off signal, which is particularly damaging to the meme coin sector that relies more on trends and sentiment than fundamentals. As Bitcoin tests support at the $67,000 level, downward pressure on meme coins is likely to persist for the time being.
Experts noted, “As major coins undergo corrections amid macroeconomic uncertainty, capital outflows from high-risk assets such as meme coins are accelerating,” adding, “Even if tokens like Pippin experience sharp rallies, they could be pump-driven moves unsupported by trading volume, so investors should exercise caution when chasing gains.”
Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from reliance on it. The content should be interpreted for informational purposes only.
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