Dogecoin Dives as Solana and Ethereum Meme Coins Crash

Leading meme coin Dogecoin (DOGE) is down more than 11% in the last 24 hours, dropping below $0.20 for the first time since November as the broader meme coin and crypto markets sell off. 

At a current price just under $0.201, DOGE is now down 43% in the last month and trades 72% off its all-time high of $0.73 established in 2021. Dogecoin dipped as low as $0.197 earlier Tuesday.

But the top meme coin is not the only one bleeding, as majors like Bitcoin and Ethereum are down 8.3% and 10.1% respectively in the last 24 hours. And other meme coins have marked much sharper drops.

The entire meme coin market cap is down nearly 16.4% during that time, led by double-digit losses for the Ethereum-based Pepe (PEPE) and top Solana meme coins like President Donald Trump’s official token (TRUMP) and Bonk (BONK), which have all lost at least 14% in the last week. 

Popular Solana meme coin Fartcoin (FARTCOIN), which was launched on the Pump.fun token launchpad, has also fallen sharply amid the meme coin drops.

The token, which briefly jumped to more than a $2.4 billion market cap just over a month ago, is now down nearly 90% from its all-time high as it trades at $0.29, sliding outside the top 200 in crypto market cap according to CoinGecko.

The swift drops across the board has led to $32.37 million in liquidations for DOGE contracts and $11.39 million on TRUMP in the last 24 hours, as open interest on the top meme coins drop per data from CoinGlass. 

Among notable meme coins, only Popcat (POPCAT) and Peanut the Squirrel (PNUT) have posted gains in the last 24 hours, jumping 1% and 5% respectively. 

The entire crypto market cap is down 8.8% during that time, dropping below the $3 trillion mark in the process.

Edited by Andrew Hayward