The meme coin market is crashing, losing hundreds of millions in market cap as risk sentiment goes down across crypto

Over the past 24 hours, big tokens like Dogecoin (DOGE), Shiba Inu (SHIB) and TRUMP have all dropped big time, proving that speculative assets are still vulnerable

The meme coin market is crashing, losing hundreds of millions in market cap as risk sentiment goes down across crypto. Over the past 24 hours, big tokens like Dogecoin (DOGE), Shiba Inu (SHIB) and TRUMP have all dropped, and smaller meme coins are getting hit hard.

TRUMP Token Leads the Decline

TRUMP/USDT dropped 13.34% to $12.96, erasing all the gains of the week. Despite generating $625 million in volume (thanks to social hype and political headlines) TRUMP couldn’t hold on to the gains. The token is showing investor fatigue and a shift away from risk trades.

On the 1-hour chart TRUMP is compressing in a symmetrical triangle, price is just below the 50 period EMA at $12.77. The recent price action showed a brief breakout to $13.88 but the bulls couldn’t hold on. The MACD is positive and the histogram is green, but a close above $13.88 is still needed to confirm the setup. Until then $12.21 is the level to watch, if it breaks below that it could go down to $11.59.

Other Meme Coins Follow

While TRUMP was the headliner, other meme tokens followed:

DOGE -4.23% to $0.2171

SHIB -5.59% to $0.00001425

PEPE -8.34% to $0.00001239

BONK -12.19% to $0.00001881

Especially notable is that BONK dropped despite $4 million going into cold storage recently (usually a bullish sign). Even long term holders seem spooked and are selling.

Volatility and Leverage is the Fire

Analysts point to a mix of rising market volatility, deleveraging and profit taking after several weeks of meme coin rallies. As Bitcoin struggles to break above $104K and Ethereum is facing technical pressure, altcoins (especially the hyped ones) are bearing the brunt.

This is further amplified by the recent allegations on politically affiliated tokens and the question of sustainability of volume without underlying structure. While social momentum is still a big driver in this space, investor appetite seems to be drying up without major catalysts.

Outlook: Wait for Confirmation

Bullish above $13.88 to $14.75 and $15.32

Bearish below $12.21 to $11.59

MACD support and price compression means a big move is coming but direction is unknown

Until Bitcoin stabilizes and TRUMP clears its technicals, meme coin traders should wait and not chase the short term volatility.