Why Meme Coin Prices DOGE, SHIB, and PEPE are Slipping Today?

Meme coin prices are taking a toll again today, presenting the top tokens like DOGE, SHIB, PEPE, and others struggling against the bears. This week, the volatility of the digital assets remained high due to multiple crypto-focused events and additional factors. As a result, multiple crashes formed, with insignificant recoveries, including today.

Meme Coin Prices Crash, Market Cap Slips by 8%

Amid today’s crypto market crash, meme-themed cryptocurrencies became a major target due to their volatility and limited demand. Not only did the prices of low-cap coins slip, but even popular meme coin like DOGE, PEPE, and SHIB plummeted, signaling a strong bearish downtrend, declining their market worth.

The CoinMarketCap analytics reveal that the meme-themed cryptos’ market cap has plummeted 8%, currently at $73.49 billion. However, in contrast, the trading volume is up, $12.54 billion at press time, with a 20% surge. This signals the sellers’ dominance in the crypto market.

Here’s Why DOGE, SHIB, and PEPE Price Declines

DOGE, currently trading at $0.2054 with $30.88 billion in market capitalization, has lost nearly 8% of its value in 24 hours. This happened as Trump’s tariff updates and others’ fears drove a wide sell-off among token holders.

Recently, Trump has made significant changes to import tariffs across various nations. This includes the increase in Canada’s tariff from 25% to 35%, the imposition of a 25% tariff on India, and others. With this, the Dogecoin token price crashed below the key $0.20 support, triggering a cascading liquidation of $23.16 million in 24 hours.

The same holds true for SHIB and PEPE as well, where the former is trading at $0.00001214 after a 7.2% crash and the latter’s worth declines to $0.00001049 after a 9.3% crash.

Both these coins faced sharp liquidation and lost their key support. Overall, the tariff threats and the Fed’s unchanged interest rates are playing the biggest role in the downtrend today.

Notably, while the crash still persists, the Bitcoin dominance rose to 61.2% as capital fled from volatile assets like meme coins to Bitcoin, crashing their prices. In addition, the Altcoin Season Index dropped to 35, signaling investors’ declining trust in the altcoin boom.