- Dogecoin, Shiba Inu, Pepe, Dogwifhat, and Bonk extend losses following Bitcoin's drop to around $58,000.
- Meme coins have observed a decline in on-chain activity.
- Meme coin market capitalization shrinks to $40 billion on Monday.
Meme coins erased 6% of their market capitalization in the last 24 hours, down to $40 billion per CoinGecko data. The shrinking market capitalization reflects the “fear” among crypto traders.
Alternative.me’s Crypto fear and greed index reads 25 on Monday, signaling “extreme fear” among traders. Two market movers are likely driving the changing sentiment, alongside macro factors this week.
Crypto fear and greed index
Meme coins extend losses on Monday
The top five meme coins ranked by market capitalization include Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF) and Bonk (BONK). These five tokens erased between 6% and 9% of their value in the last 24 hours, per CoinGecko data.
Meme coin price change
Meme coins are the leading narrative in the ongoing market cycle, which has been termed as the “meme coin supercycle. The sector outperformed others consecutively in the first two quarters of 2024.
Meme coin launchpads like Pump.fun and Moonshot have recorded a large number of launches as the asset category gains popularity.
Data from Dune Analytics shows only 0.12% of the meme coin launches on Pump.fun made it past $60,000 in market capitalization (in the last 24 hours) and a listing to the decentralized exchange Raydium. The alarming numbers show the state of meme coins and investments in the category.
1.4% of Pump.fun’s 1.58 million meme coins that have been listed on the DEX since its inception were listed on a DEX. Nearly 99% of the projects failed or ended up in a “pump and dump” scheme. The chart below shows the number of projects launched and the successful ones (that were listed on an exchange.)
Successful launch and coins launched per day
Declining on-chain activity signals traders’ loss of interest
Santiment data shows that active addresses in the 24 hour timeframe declined in top meme coins. A drop in on-chain activity is a sign of a loss of interest from market participants. This can be attributed to last week’s crypto crash, the drop in Bitcoin’s price under $60,000, and an overall decline in capital inflow to the meme coin category.
Active addresses 24-hour for SHIB, DOGE, and PEPE
At the time of writing, the sentiment among crypto traders is that of “extreme fear”, and Bitcoin ranges below $60,000. On Monday, BTC trades at $58,883, DOGE trades at $0.1038, SHIB at $0.00001376, PEPE at $0.00000817, WIF at $1.730 and BONK at $0.00001967.
Cryptocurrency prices FAQs
Token launches like Arbitrum’s ARB airdrop and Optimism OP influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence risk assets like Bitcoin, mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs. This has been observed in Bitcoin and Litecoin.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.

Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.

Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.

Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.

Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.