After a sharp rally, the meme coin market cooled as investors faced macro uncertainty and signs of overheating. On January 8, CoinMarketCap data showed the total meme coin market cap fell 2.92% to $45.96 billion, while trading volume slumped 29.32% to $5.36 billion. DOGE slid 2.29% to $0.1465 and SHIB declined 3.10%, underscoring broad weakness among meme tokens. The pullback followed last week’s record gains as investors locked in profits.
Pepe surged 63.15% week over week, while Bonk rose 51.82% over the same period. On the day, Pepe gained 0.05% and held near flat. Across the market, the total crypto market cap fell 2.53%, and Bitcoin traded around $91,000, signaling a risk-off mood across assets.
Meme tokens, known for their volatility, faced selling pressures as retail traders and whales realized profits. Volume declines point to thinner new buying. Analysts expect meme coins to tread water in the near term, with potential for a technical bounce if demand stabilizes while macro concerns ease.
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