- Dogecoin and other leading meme coins like Fartcoin and PEPE have plunged sharply, with DOGE dropping nearly 6% as geopolitical tensions between Israel and Iran rattle global markets.
- The broader crypto sell-off has wiped out over $1.13 billion in liquidations, signaling heightened investor fear across both meme and major assets.
Dogecoin Drops Amid Global Unrest
Dogecoin, the original meme cryptocurrency, is leading a dramatic downturn in the meme coin market as escalating tensions between Israel and Iran trigger a wave of panic across global markets. Over the last 24 hours, DOGE has dropped nearly 6%, slipping below $0.178 and marking a steep 23% decline over the past month. Once soaring at $0.73 during the 2021 bull run, Dogecoin is now down more than 75% from its all-time high.
Meme Coins Feel the Heat
While Dogecoin takes the spotlight, other popular meme coins are tumbling even harder. Ethereum-based Pepe (PEPE) plunged 10.8%, and Solana’s meme heavyweights—Fartcoin (FARTCOIN), Bonk (BONK), and Dogwifhat (WIF)—each dropped more than 9%. Even SPX6900, a quirky token aiming to “flip” the S&P 500 in market cap, fell over 13% just days after hitting a new high.
The flatulence-themed Fartcoin also saw its odds plummet in Myriad Market’s prediction platform, where the likelihood of it surpassing a $1.3 billion market cap by Saturday plunged from 51% to just 14%.
Wider Crypto Market Also Hit
The meme sector isn’t suffering in isolation. Bitcoin fell 4.5% to $104,343, and Ethereum took a steeper dive of 8.2% to settle at $2,552. In total, more than $1.13 billion was liquidated across crypto markets in the past 24 hours, reflecting a widespread risk-off sentiment sparked by the Middle East conflict.
What’s Next for Meme Coins?
While Bitcoin and Ethereum show some signs of stability, the meme coin space appears to be in freefall. With rising geopolitical tensions and market uncertainty, investors are fleeing high-risk assets—leaving Dogecoin and its meme peers in a sharp decline with no clear recovery in sight.
