Many of This Cycle’s Hottest Meme Coins Have Crashed 87–99% From Their All-Time Highs
The latest market data shows a familiar pattern in the crypto market: meme coins rise fast and collapse even faster. After explosive peaks earlier in the cycle, many of the most viral tokens are now down between 87% and 99% from their all-time highs.
Well-known names like $WIF, $POPCAT, $FWOG, $MOODENG, $GIGA, $MICHI and others have experienced severe drawdowns in a short period of time.
Key observations
• $WIF has dropped 92% from its ATH
• $POPCAT is down 95%
• $FWOG has fallen 97%
• $MICHI and $MUMU are both down 99%
• Even political tokens were hit hard: $TRUMP is down 91%, $MELANIA 98%
• Most Solana-based meme tokens retraced far more aggressively than expected
Meme coins typically follow an extreme cycle built on hype, rapid inflows, a short period of euphoria, and then a deep crash once the excitement fades.
Why meme coins crash so violently
• Their growth depends almost entirely on FOMO, not fundamentals
• Retail investors panic-sell quickly during downturns
• Very few projects have actual utility or long-term value
• Liquidity rotates rapidly between new trending tokens on Solana and Base
• Market makers often reduce support once the hype phase ends
Most meme assets complete their entire boom-and-bust cycle within 30 to 90 days, making them one of the most volatile segments of the market.
BTCUSA original analysis
This market-wide correction does not necessarily mean the meme coin cycle is over. Historically, major capitulation phases have often occurred just before new waves of speculation. Meme coins usually outperform during the late stages of Bitcoin bull markets, when liquidity peaks and traders begin chasing higher-risk assets.
It is also important to recognize that future winners rarely come from previous cycles. Every meme season brings new breakout tokens, while old favorites almost never return to their peak levels.
Editor’s commentary
Sharp drawdowns are a natural part of the meme coin ecosystem. For some traders, these moments offer opportunities, but only if they fully accept the risks of extreme volatility and potential total loss.
BTCUSA will continue tracking the meme coin sector closely, highlighting emerging trends before they enter the mainstream.
