A $40 Billion Wipeout Shakes the Crypto World
The past month proved to be a challenging period for meme coins, with the sector shedding close to $40 billion in value since Feb. 1, 2025. Dogecoin (DOGE), the oldest and the leading meme token, boasting a market capitalization of $30.25 billion, experienced a 37.61% decline against the U.S. dollar. DOGE’s value tumbled from $0.3278 to $0.2045 per coin, marking a significant downturn in February.
Crypto’s Comedy Turns Tragic: A $40 Billion Wipeout Shakes the Crypto World
Meme Coin Mayhem
Data reveals that between Feb. 1 and March 1, 2025, the meme coin market witnessed a staggering $39.39 billion vanish into thin air. Dogecoin (DOGE), the sector’s heavyweight, contributed $18.22 billion to this decline, its value plummeting by 37.61%. Shiba inu (SHIB) wasn’t spared either, tumbling 28.43% and accounting for $3.21 billion of the overall losses. Meanwhile, pepe (PEPE), the third-largest meme token, suffered a 44.58% drop, wiping $2.55 billion from its market cap since Feb. 1.
Crypto’s Comedy Turns Tragic: A $40 Billion Wipeout Shakes the Crypto World
February 1, 2025, meme coin market cap.
The official TRUMP token began the month at $24.09 per coin but closed March 1 at $13.15, a 45.41% nosedive that erased $2.22 billion from its market cap. Bonk (BONK) also struggled, its market cap slipping from $1.91 billion to $1.04 billion, teetering on the edge of losing its billion-dollar status. The month’s most dramatic declines, however, belonged to fartcoin (FARTCOIN) and spx6900 (SPX), which plummeted by 77.99% and 59.04%, respectively.
Crypto’s Comedy Turns Tragic: A $40 Billion Wipeout Shakes the Crypto World
March 1, 2025, meme coin market cap.
Brett (BRETT) didn’t fare much better, shedding 52.62% of its value against the U.S. dollar. Other significant casualties included MEW, AI16Z, and MOG, all of which faced steep declines. The meme coin sector’s current predicament mirrors a precarious house of cards, built on speculative fervor, market oversaturation, and a glaring absence of sustainable foundations—a fragile ecosystem teetering on the brink of collapse, reminiscent of the 2017 initial coin offering (ICO) frenzy.
Yet, despite the ominous forecasts, the meme coin sector has consistently defied skeptics, continuing to grow over the past year. Critics have labeled it a bubble destined to burst since at least 2020, particularly with the rise of SHIB and similar tokens, citing their reliance on hype and lack of intrinsic value. Fast forward to March 1, 2025, and the meme coin market cap has soared past $100 billion over the last 12 months, reaching heights not seen since the 2021 bull run.
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