Meme coins are taking it on the chin — and harder than most sectors in the crypto economy. About $8.57 billion in market value evaporated in just one day. The weekly scoreboard looks just as brutal: dogecoin (DOGE) dropped 20.9%, SHIB slid 13.8%, and PEPE got clobbered with a 23.9% loss.

PUMP deflated 21.1%, PENGU faceplanted with a 32.3% decline, and BONK got smacked down 21.4%. But SPX takes the gold medal for pain out of the top ten meme coins — plunging a staggering 41.9% this week. Some tokens had it even worse — BELIEVE nosedived 76%, while AIC bled out roughly 57% this week.

Zooming out about 55 days to Sept. 10, 2025, the meme coin market has seen a jaw-dropping $29.54 billion vanish into thin air. Back then, the sector flexed a hefty $81.74 billion valuation; today, it’s limping along at $52.2 billion. A few meme coins somehow dodged the wrecking ball this week.

PIPPEN strutted higher with a 69.1% gain, while ZEREBRO pulled off a slick 67.3% climb. MINIDOGE wagged its way up 24.2%, and PYTHIA conjured a tidy 13.7% jump. Many think the meme coin era is running out of punchlines. These downturns are being read as the final nails in the coffin for the sector, which hasn’t seen the same hype or demand it enjoyed earlier in the year.

To meme coin detractors, they believe that when the confetti settles, meme coins continue to prove they’re the circus acts of crypto—loud, flashy, and inevitably realizing face-planting performances. Every pump party ends with someone holding the inflatable bag, wondering why the music stopped. Still, this isn’t the first “funeral” for meme coins — and probably won’t be the last.

Time and again, they’ve been declared dead, only to pop back up like that uninvited guest who refuses to leave the party. Somehow, some way, meme coins always manage to get the last laugh.

• What caused the recent meme coin crash?
  A major sell-off across the broad crypto market erased billions in value, hitting meme coins especially hard.
• Which meme coins were affected the most?
  Dogecoin, SHIB, PEPE, and SPX saw steep declines, with some tokens losing over 40% this week.
• Are any meme coins still performing well?
  Yes, PIPPEN, ZEREBRO, MINIDOGE, and PYTHIA managed to post gains despite the downturn.
• Is this the end for meme coins?
  Not likely—meme coins have been declared dead before and somehow always bounce back.

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