Over the weekend, the meme-coin market failed to break away from the overall bearish trend despite brief signs of a near-term rebound. Data from CoinMarketCap, as of 7:45 a.m. Korea time on December 22, shows that most major meme coins posted modest 1-hour gains but registered clear declines over 24 hours and the week. Dogecoin (DOGE) traded at $0.1302, up 0.52% in the 1-hour window but down 1.44% over 24 hours, staying near the lower end of its trading range.
Shiba Inu (SHIB) at $0.000007256, down 10.00% over the seven days, was at the center of weekend weakness. Bonk (BONK) fell about 11.33% over the week, while Floki (FLOKI) declined in the 8% range, adding to selling pressure across meme coins. Smaller-cap meme coins were even more volatile.
MemeCore (M) rose 4.15% over the last 24 hours, but fell 18.09% on the week, signaling a short-lived technical rebound. Pudgy Penguins (PENGU) slid 13.02% over seven days, continuing downside pressure, while SPX6900 (SPX) posted more than a 14% weekly drop. In contrast, Pippin (PIPPIN) surged about 21.55% over the week, an outlier among meme coins. The weakness in meme coins is attributed to a lack of fresh catalysts.
Bitcoin and Ethereum failed to pick a clear direction over the weekend, with retail-focused short-term funds turning cautious. Notably, double-digit weekly losers expanded, dampening the urge for chasing prices. The outlook for the week centers on a potential selective rebound. Large meme coins may attempt technical rebounds rather than further declines, but without accompanying volume, upside durability could be limited. The market is likely to remain choppy until Bitcoin direction and global equity trends confirm a more meaningful recovery.
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