Top Meme Cryptos Collapsed, PEPE, BONK Worst Performers

Crypto Market in Turmoil as Meme Coins Suffer Devastating Losses

The cryptocurrency market is facing a significant downturn, with the meme coin segment bearing the brunt of the losses. As the overall market capitalization erased $147 billion in just 24 hours, the largest meme cryptocurrencies are experiencing double-digit declines, with Pepe (PEPE) and Bonk (BONK) leading the charge.

The once-popular meme coin Pepe (PEPE) has plummeted by 12.1%, with its price dropping to multi-week lows at $0.0000113. The coin's market capitalization has plunged below $4.7 billion, a 60% decrease from its all-time high registered on December 6, 2024.

Another high-profile meme coin, SPX6900 (SPX), part of Murad Mahmudov's portfolio, has lost 13% of its value, with the price dipping to $0.9595, a local low.

Bonk (BONK), a prominent meme cryptocurrency, has also suffered significant losses, with its price plummeting to $0.00001587, a 10.3% decline overnight. The coin's market capitalization has dropped to $1.29 billion on shrinking trading volume.

The largest meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), are not immune to the market downturn, with Dogecoin's (DOGE) price plunging by 7.8% to $0.189 and Shiba Inu's (SHIB) price dropping to $0.00001254.

The net capitalization of the meme coin segment has decreased by 12%, with the worst-performing classes being frog-themed meme coins (16.1% lost in 24 hours), Murad Mahmudov's meme coins (16% lost), and Solana-based meme cryptocurrencies (13.8% lost).

Even some of the top-league meme coins have lost their spots in the top 100, with Dogwifhat (WIF), a pioneering major stablecoin on Solana (SOL), plunging by 18.6% and its capitalization dropping to $818 million. Floki (FLOKI), another prominent community meme coin, hit $0.00008003 after losing 13.5% in 24 hours, while Based Brett (BRETT) plummeted to $0.0501 with a 14.5% loss overnight.

The broader cryptocurrency market is also feeling the impact, with Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies, down by 1.5% and 2.5%, respectively. Bitcoin (BTC) is struggling to maintain its $2 billion capitalization.