DOGE, SHIB, PEPE Crash—Meme Coins Lose Post-Election Gains

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DOGE, SHIB, PEPE, and BONK are seeing massive losses, while BTC and XRP continued to outperform, maintaining significant post-election price gains.

Many cryptocurrencies have erased all the gains accumulated since the 2024 United States Presidential Election, with meme coins particularly affected, according to IntoTheBlock.

In a recent tweet, the analytics firm highlighted that the meme coin market capitalization is nearing its November 2024 levels.

Such a trend effectively depicted the undoing of the surge witnessed during the winter “meme coin season.”

The OG meme coin – Dogecoin (DOGE) – which rallied from around $0.20 before the election to a multi-year high of almost $0.5 following Donald Trump’s victory on November 5, 2024, has since retraced most of its gains. It is currently trading at $0.20 after this morning’s market-wide crash.

Next up was Shiba Inu (SHIB), which experienced a similar trajectory as it plunged from December’s peak of $0.000033 to $0.0000133 – lower than the pre-election levels.


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