Pump.fun, dogwifhat, and Pepe prices crashed on Monday as memecoins faced intense selling pressure. The sharp decline came as Bitcoin retreated from recent highs above $117,000.
Memecoins have struggled as Bitcoin’s momentum cooled following last week’s surge to fresh records. The benchmark cryptocurrency has since dropped toward $112,000, dampening broader market sentiment and triggering profit-taking across altcoins.
The retreat has particularly hurt speculative tokens, with memecoins emerging as some of the biggest underperformers in the past 24 hours.
Major Memecoin Losses Exceed 10%
While Dogecoin, Shiba Inu, and Bonk are among the top losers, PUMP and WIF have seen particularly severe declines.
Pump.fun (PUMP) reached an all-time high of $0.01214 in July. However, profit-taking and the overall downturn have pushed the token to lows of $0.0060. This follows a bearish reversal around $0.0089 on September 14.
PUMP has declined over 16% in the past 24 hours. The token mirrors losses seen in Pi Network and Conflux among the top 100 cryptocurrencies by market cap. Meanwhile, PUMP is down 25% over the past week as panic selling drove trading volume up 24% to over $598 million.
Dogwifhat (WIF), the Solana-based meme token, has fared similarly. WIF tumbled to $0.8010, representing an 11% decline in 24 hours. Trading volume spiked 102% to over $256 million amid broader altcoin weakness.
Whale sell-offs have aided the bearish momentum. The price now sits 83% below its all-time high of $4.85.
Pepe (PEPE), the Ethereum-based frog-themed memecoin, continues sliding into bearish territory. The token is consolidating near $0.0000097 after plummeting 10% over the past day. Large sellers pushed daily volume up 133% to $889 million.
Market Outlook for Memecoins
The memecoin rout reflects a broader crypto market contraction. Total market capitalization has dipped below $4 trillion as Bitcoin and Ethereum prices crashed.
Several factors are weighing on risk assets as stocks also shed gains on Monday. Headwinds include macroeconomic concerns such as Federal Reserve policy, trade dynamics, and inflation pressures.
Friday’s upcoming data release will be crucial for market direction. Anticipated ETF approvals in coming weeks could also influence sentiment.
However, a renewed Bitcoin rally could open opportunities for memecoins. Crypto markets tend to follow cyclical patterns, with altcoins often recovering when Bitcoin regains momentum.
