The broader crypto market has weakened, with meme coins among the most affected as risk-off sentiment rises. Dogecoin slid 10.61% to $0.09098, while other meme coins also declined, including Shiba Inu down 11.20% to $0.057 and Pepe down 13.42% to $0.053; SUI fell 16.61% to $0.88. Bitcoin dropped 8.54% to $64,784, marking a roughly 21.95% decline over the past week as major assets retreat.
The downturn extends to the wider altcoin space, with Ethereum and other top coins posting sharp losses. The market has been propelled by global macro uncertainty and cautious investor sentiment, pushing risk assets lower and amplifying selling pressure in volatile segments like memecoins. Total memecoin market capitalization has contracted to under $40 billion, signaling a challenging environment for speculative assets driven by community sentiment rather than intrinsic utility.
Analysts expect near-term volatility to persist until clearer price direction emerges for Bitcoin and Ethereum. While some anticipate a technical bounce after the current correction, sustained gains will depend on trading volume and improved investor confidence. The market’s fear index sits at extreme levels, underscoring the risk-off climate that characterized memecoins during this pullback.
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