{"id":43820,"date":"2025-02-12T11:36:45","date_gmt":"2025-02-12T11:36:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=43820"},"modified":"2025-02-12T11:36:45","modified_gmt":"2025-02-12T11:36:45","slug":"meme-coin-crash-wif-pepe-pengu-and-others-dive-into-deep-red","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=43820","title":{"rendered":"Meme Coin Crash: WIF, PEPE, PENGU, and Others Dive Into Deep Red"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Leading meme coins have suffered steep declines in the last 24 hours, aligning with the broader cryptocurrency downturn, as Bitcoin briefly dipped below $95,000.<\/p>\n

Tokens linked to public figures, such as MOTHER, DADDY, and TRUMP, have crashed in the past few months, highlighting the risks of hype-driven investments.<\/p>\n

<\/a><\/span><\/h2>\n

Memes Take a Blow<\/h2>\n

Meme coins, <\/span>which have been<\/span> among the highlights during this bull cycle, have underperformed recently. The top 10 tokens in <\/span>terms of<\/span> market capitalization, including Dogecoin (DOGE) and Shiba Inu (SHIB), are <\/span>deep<\/span> in the red on a weekly scale. The situation doesn\u2019t look more promising today (February 12), with most memes charting further losses.<\/span><\/p>\n

Some of the worst performers are <\/span>dogwifhat<\/span> (WIF), Fartcoin (FARTCOIN), Pepe (PEPE), and Pengu (PENGU), all of whom have plummeted by double digits in the past 24 hours.\u00a0<\/span><\/p>\n

The sector\u2019s pullback aligns with the overall bearish sentiment reigning in the cryptocurrency market. Bitcoin (BTC) briefly dipped below $95,000, while Ethereum (ETH) and many well-known altcoins <\/span>continue to<\/span> record substantial losses.\u00a0<\/span><\/p>\n

Another reason could be <\/span>the fading interest from investors<\/span>. Earlier this week, crypto analytics platform Santiment <\/span>estimated<\/span><\/a> that top meme coins like Dogecoin, Shiba Inu, and Pepe are being discussed less and less <\/span>across<\/span> social media.<\/span><\/p>\n

According to the entity<\/span>, though<\/span>, the traders\u2019 potential pivot from meme coins toward bitcoin and \u201cassets with strong utility and market positions\u201d suggest a healthier cycle.<\/span><\/p>\n

\u201cThis shift encourages a more balanced ecosystem, reducing the risk of unsustainable price surges and crashes fueled purely by speculative mania,\u201d it added.<\/span><\/p>\n

Celebrity Memes Crash Even Harder<\/span><\/h2>\n

Over the past several months, the crypto community witnessed the launch of numerous meme tokens\u00a0<\/span>associated with (or endorsed by) public figures. Two <\/span>evident<\/span> examples are MOTHER (linked to pop star Iggy Azalea) and DADDY (related to the controversial media personality Andrew Tate).<\/span><\/p>\n

The former <\/span>saw the light of day<\/span> in May last year, and its market cap soared above $130 million mere weeks later. Currently, though, <\/span>the<\/span> capitalization stands at less than $8 million.<\/span>\u00a0<\/span><\/p>\n

It is important to note that the launch of MOTHER caused some people to raise eyebrows and question its use cases. One of those was Ethereum\u2019s co-founder Vitalik Buterin, who <\/span>said<\/span><\/a>:<\/span><\/p>\n

\u201cI\u2019m feeling quite unhappy about \u201cthis cycle\u2019s celebrity experimentation\u201d so far.\u00a0<\/span>[\u2026] Ashton and Mila\u2019s Stoner Cats was vastly more honorable than anything we\u2019ve seen from this 2024 celebrity meme coin era \u2013 at least\u00a0<\/span>there was an actual show<\/span>\u00a0<\/span>being funded<\/span>.\u201d<\/span><\/p>\n

DADDY<\/span> \u2013 <\/span>the token shilled by Andrew Tate<\/span> \u2013 <\/span>popped up in June 2024, and similar to MOTHER, its market cap crossed the $100 million zone in a matter of days. At one point, the influencer <\/span>urged<\/span><\/a> traders to accumulate as many assets as they could in <\/span>a period of<\/span> 72 hours, claiming he had prepared a \u201cgrand plan.\u201d<\/span><\/p>\n

Contrary to his promise, DADDY gradually <\/span>headed<\/span> south in the following months, and its current market capitalization is <\/span>hovering at<\/span> just $20 million.<\/span>\u00a0<\/span><\/p>\n

TRUMP and MELANIA should also <\/span>be placed<\/span> on the list. The assets, linked to US President Donald Trump and his wife, Melania Trump, experienced an impressive rally around the Republican\u2019s inauguration last month.<\/span><\/p>\n

TRUMP\u2019s market cap briefly <\/span>skyrocketed<\/span><\/a> above $14.5 billion, thus becoming the second-biggest meme coin, while MELANIA\u2019s capitalization <\/span>exceeded<\/span><\/a> $2 billion. However, their bull run was short-lived, and both tokens are currently far away from their peak levels.<\/span><\/p>\n

These steep declines emphasize the unpredictable nature of celebrity-backed meme coins. Those about to hop on the bandwagon should be well-prepared for rapid price fluctuations in any direction and distribute only as much as they are ready to lose.<\/span><\/p>\n

The post Meme Coin Crash: WIF, PEPE, PENGU, and Others Dive Into Deep Red<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Leading meme coins have suffered steep declines in the last 24 hours, aligning with the broader cryptocurrency downturn, as Bitcoin briefly dipped below $95,000. Tokens linked to public figures, such as MOTHER, DADDY, and TRUMP, have crashed in the past few months, highlighting the risks of hype-driven investments. Memes Take a Blow Meme coins, […]<\/p>\n","protected":false},"author":0,"featured_media":43821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-43820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43820"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43820"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43820\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/43821"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}