Memecoins Plunge 66%, Wiping Out $5 Billion in Market Cap

21.11.2025 16:47 5 sources negative
DOGE DOGE $0.15 +4.05%
SHIB SHIB $0.000008597 +1.02%
PEPE PEPE $0.000004837 +4.31%
BONK BONK $0.000009833 +4.40%
FLOKI FLOKI

The memecoin market has suffered a brutal crash, plunging nearly 66% from its 2025 highs and erasing over $5 billion in market capitalization within 24 hours. According to data from CoinMarketCap, the sector's valuation dropped to $39.4 billion from $44 billion, marking a 66.2% drawdown from the peak of $116.7 billion reached on January 5, 2025.

Tokens like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Bonk (BONK), and Floki (FLOKI) led the nosedive, with some shedding over half their value in a single day. Seven-day losses ranged from 11% to over 20%, with Bonk, Pudgy Penguins, Pepe, and Dogwifhat (WIF) among the hardest hit.

The collapse was driven by panic selling, whale sell-offs, reduced retail interest, and low liquidity, which exacerbated price swings. Analysts suggest the memecoin bubble may have reached a critical point, highlighting the segment's volatility and lack of fundamental utility.

This sell-off mirrored a broader crypto market decline, with the total market cap falling from $3.77 trillion to $2.96 trillion over three weeks. Bitcoin and Ether also posted significant losses of around 14-16% over the past week.

DOGE DOGE $0.15 +4.05%
DOGE faces severe bearish pressure from a memecoin sector crash, losing 66% from 2025 highs amid panic selling and whale liquidations. The $5 billion market cap wipeout reflects collapsing retail interest and liquidity issues. Short-term recovery appears limited given fundamental weakness and broader crypto downturn. Long-term viability depends on whether utility tokens continue drawing capital away from speculative memecoins. Immediate catalysts are absent, suggesting continued downward pressure.
Technical analysis
Technical indicators confirm bearish momentum: RSI at 30-36 (oversold), ADX above 47 showing strong downtrend, and price below all EMAs. Volume spike suggests capitulation, but no reversal signals yet. Support at $0.14 pivotal level.
SHIB SHIB $0.000008597 +1.02%
Severe memecoin sector crash driven by panic selling, whale liquidations, and low liquidity has erased $5B in market cap. SHIB faces strong negative sentiment with fundamental drivers absent - no utility or adoption catalysts to counter the sell-off. Short-term recovery unlikely given sector-wide capitulation and reduced retail interest. Long-term outlook remains bearish as the memecoin bubble deflates, with SHIB particularly vulnerable due to its speculative nature and lack of fundamental value proposition.
Technical analysis
Technicals confirm bearish momentum with RSI at oversold 30.16 on 4h, ADX at 50.4 showing strong trend, and negative momentum across timeframes. Volume spikes indicate capitulation selling supporting continued downward pressure.
PEPE PEPE $0.000004837 +4.31%
Severe memecoin sector crash driven by panic selling, whale exits, and liquidity crunch has erased 66% from 2025 highs. PEPE among hardest hit, losing over half its value in 24 hours. This reflects systemic risk in meme assets lacking fundamental utility. Short-term recovery unlikely given broad crypto market decline (-14-16% BTC/ETH). Long-term viability questionable as bubble deflates, though oversold conditions may spark dead-cat bounces.
Technical analysis
Strong bearish confirmation: RSI 29 (4h) shows extreme oversold, ADX 43 indicates powerful downtrend momentum. Volume spike confirms capitulation selling. Stochastic below 20 signals continued selling pressure across timeframes.
BONK BONK $0.000009833 +4.40%
BONK faces severe fundamental headwinds from the memecoin sector crash, with panic selling and whale liquidations erasing 66% of sector value. The news highlights systemic risk, low liquidity, and lack of fundamental utility driving the selloff. Short-term recovery appears unlikely given the scale of capitulation and negative sentiment. Long-term viability remains questionable without adoption catalysts. BONK was specifically mentioned among the hardest-hit tokens, indicating concentrated selling pressure.
Technical analysis
Technicals confirm bearish momentum with RSI(4h) at oversold 29.92, ADX(4h) at 51.08 showing strong downtrend, and volume elevated during decline. Multiple timeframes show negative momentum and bearish DI dominance, supporting continued selling pressure.
FLOKI FLOKI
FLOKI faces severe bearish pressure amid a memecoin sector collapse, losing 66% from 2025 highs with $5B market cap wiped out. The crash stems from panic selling, whale exits, and low liquidity, exposing memecoins' fundamental weakness. Short-term recovery appears unlikely given sector-wide deleveraging and reduced retail interest. Long-term viability depends on broader crypto market stabilization and potential memecoin rotation, but fundamental utility concerns persist.
Technical analysis
Technicals confirm bearish momentum: 4h RSI at oversold 33.28, ADX at 47.6 showing strong downtrend, and negative CCI at -126.85. Volume spikes indicate capitulation selling. Short-term bounces likely face resistance given persistent selling pressure.
Sources
Crypto Assets Hit 2025 Lows Amidst $5B Meme Coin Loss
bitcoininfonews.com 21.11.2025 20:53
Alternative Crypto Assets Crash to 2025 Lows as Meme Coins Shed $5B and NFTs Down 43%
cryptonews.com 21.11.2025 20:37
Memecoin Market Sinks to 2025 Low After Whopping $5B Wipeout in 24 Hours
Financefeeds 21.11.2025 17:29
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