The meme coin market records a significant drop

Meme coins, which rose sharply after the 2024 US presidential election, have now lost almost all of their gains. According to the analytical company IntoTheBlock, the total capitalization of this market segment has returned to the level of November 2024. This indicates the end of the winter «meme-coin season,» which once caused a stir among traders.

Dogecoin DOGE $0.20 Binance-Peg Dogecoin -10.56% Market capitalization $0.53 billion VOL. 24 hours $0.62 billion , which rose to $ 0.50 after Donald Trump’s victory, has now returned to $ 0.20. Shiba Inu SHIB $0.00001368 Shiba Inu -6.52% Market capitalization $8.12 billion VOL. 24 hours $83.64 million fell from a peak of $ 0.33 in December to $ 0.133. Pepe PEPE $0.00000781 Pepe -11.09% Market capitalization $3.32 billion VOL. 24 hours $0.33 billion suffered even more severe losses, falling by 78%, and Bonk BONK $0.00001292 Bonk -11.36% Market capitalization $1 billion VOL. 24 hours $39.21 million - from December’s $ 0.54 to $ 0.125. FLOKI dropped almost four times, and dogwifhat (WIF) lost 89% of its value, from $ 4.20 to $ 0.51.

Despite the overall market decline, bitcoin BTC $88,042.59 Bitcoin -7.51% Market capitalization $1.75 trillion VOL. 24 hours $6.23 billion and XRP $2.21 XRP -10.10% Market capitalization $127.68 billion VOL. 24 hours $1.7 billion demonstrate resilience. One of the main factors supporting XRP was the news of the approval of the world’s first spot XRP ETF in Brazil. The fund will be launched on the B3 exchange and will be administered by Hashdex. Meanwhile, the U.S. Securities and Exchange Commission (SEC) is reviewing applications to launch a similar product in the United States from 21Shares, Bitwise, Grayscale, and CoinShares.

The decline in meme coin prices compared to the relative stability of BTC and XRP highlights the difference between speculative assets and more established cryptocurrencies that demonstrate long-term stability even in the face of high market volatility.