Meme Coin Crash: Dogecoin and Fartcoin Lead Plunge as Crypto Liquidations Top $1.1 Billion

The recent crypto downturn is hitting meme coins especially hard, with Dogecoin, Fartcoin, and other popular tokens tumbling sharply as global tensions shake investor confidence. Over $1.1 billion was liquidated across crypto markets in only 24 hours, underscoring the volatility now gripping both meme coins and major assets alike.

Dogecoin and Meme Coin Heavyweights Suffer Major Losses

Meme coins, long known for their explosive rallies, are now leading the latest market pullback. Dogecoin, the category’s perennial frontrunner, dropped nearly 6% in the last 24 hours. Trading below $0.178, Dogecoin’s price has slipped 23% over the past month, sitting more than 75% beneath its 2021 peak of $0.73. The sell-off intensified as global market anxieties grew in response to escalating events between Israel and Iran, with investors fleeing riskier assets.

Widespread Declines: From Pepe to Fartcoin Flash Market

The malaise isn’t limited to Dogecoin. Ethereum-based Pepe coin slid 10.8% in 24 hours, while Solana’s meme favorites—Fartcoin (FARTCOIN), Bonk (BONK), and Dogwifhat (WIF)—all lost over 9%. Fartcoin’s slump has even sent shockwaves into prediction markets; on Myriad Market, the likelihood of Fartcoin surpassing a $1.3 billion market cap by Saturday evening crashed to just 14%, down from 51% the day before. Other trending meme coins, including Peanut the Squirrel (PNUT), Popcat (POPCAT), and Mog Coin (MOG), each registered double-digit percentage drops.

Altcoins Dragged Down as Crypto Markets Unravel

Broader crypto weakness is compounding meme coin woes. Bitcoin shed 2.6%, with Ethereum down 8% over the same period—still, both faring better than most meme assets. The impact has erased billions in value across the board. Not even novelty tokens chasing ambitious narratives are immune: Ethereum-based SPX6900, designed to “flip” the S&P 500’s market cap, plunged more than 13% after reaching a new high only days earlier. Altcoins at large have joined the downturn, contributing to the avalanche of liquidations in a single day.

Key Stats & Figures

• Total Crypto Liquidations: Over $1.13 billion liquidated in the past 24 hours (CoinGlass)
• Dogecoin 24h Performance: Price down 6%, now under $0.178; 23% drop over the month
• Meme Coin Category Decline: Down 9.5% in 24 hours—far worse than Bitcoin’s 2.6% drop and Ethereum’s 8% fall
• Odds Shift for Fartcoin: Probability of $1.3B market cap by Saturday fell from 51% to 14% (Myriad Market)
• Ethereum-Based Pepe Losses: Down 10.8% in 24 hours
• Solana Meme Coin Plunge: Fartcoin, Bonk, and Dogwifhat all shed more than 9%
• SPX6900 Correction: Lost over 13% in a day after recent all-time high

Investor Sentiment Sours Amid Geopolitical Discord

The meme coin meltdown coincides with rising international instability, notably renewed clashes between Israel and Iran, which have rippled across financial markets. Lowered confidence is exacerbating volatility, particularly in speculative assets like meme tokens. This challenging climate has derailed bullish sentiment across the board, leaving traders grappling with sharp corrections and diminished recovery hopes in the near term.

Conclusion: What This Means for the Market

This week’s downturn signals that meme coins remain among the most volatile assets in crypto, acutely affected by both market-wide sell-offs and broader geopolitical risks. As liquidations and price drops continue, investors may need to brace for ongoing volatility in the meme coin sector, keeping a close eye on shifting global events that can quickly reshape market dynamics.