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DOGE & WIF Plunge as Meme Coin Investors Get a Reality Check
The crypto market has been experiencing a bloodbath this week, with Dogecoin (DOGE) and DogWifHat (WIF) taking a significant hit. However, some newer meme coins are still thriving, with Crypto All-Stars and Wall Street Pepe continuing to gain traction.
DOGE has plummeted to just $0.29, its lowest price since November 11. The coin has also lost an enormous $16 billion in value over the past week alone. DOGE’s nosedive has left traders scrambling and wondering how far the OG meme coin will fall.
WIF, with its signature dog mascot, isn’t doing much better. WIF has tumbled to $1.87, a 34% drop since Tuesday’s local high. And what’s worse, the falling open interest suggests traders are starting to lose faith in the coin.
Jerome Powell’s Hawkish Stance Prompts Meme Coin Turmoil
Jerome Powell, the Fed chair, is one of the main reasons for the meme coin selloff. His comments after this week’s rate cut sent shockwaves through the markets, and meme coins, being the most volatile corner of crypto, have been hit the hardest.
Powell’s hint that there might be fewer rate cuts than expected in 2025 spooked traders who were all about taking risks. But it’s not just the Fed’s doing. Bitcoin’s growing dominance is pulling money away from altcoins and meme coins as investors seek safety in the crypto equivalent of gold.
New Meme Coins Crypto All-Stars & Wall Street Pepe Keep Growing Despite Market Downturn
Although established meme coins are in the red, two newcomers are proving that the right project can still generate excitement. The first is Crypto All-Stars, which just wrapped up a presale phase that raised over $26 million. Hype is now building as STARS’ market launch on Monday approaches.
The potential gains with STARS are not the only thing generating buzz – the project’s MemeVault platform is also receiving considerable attention. MemeVault lets investors stake 11 different meme coins to earn tokenized rewards.
There’s nothing else like it on the market right now, which is why popular influencers like ClayBro have shown interest in Crypto All-Stars. Meanwhile, Wall Street Pepe is also seeing an uptick in interest. This new meme coin has raised over $32.8 million in presale already, making it one of the fastest-growing pre-launch projects ever.
Wall Street Pepe is drawing attention by offering actual utility. Its VIP group will feature trading signals, alpha calls, strategies, tips, and even trading competitions with WEPE rewards.
Conclusion
The meme coin market is experiencing a downturn, but it’s not all doom and gloom. Newer projects like Crypto All-Stars and Wall Street Pepe are still generating excitement and attracting investors. These projects offer more than just funny memes – they provide real benefits that traders find valuable.
It could be a sign that the meme coin sector is finally maturing. As the market continues to evolve, it’s likely that we’ll see more innovative projects emerge and gain traction.
FAQs
Q: What’s causing the meme coin market downturn?
A: The meme coin market downturn is largely attributed to Jerome Powell’s hawkish stance and the growing dominance of Bitcoin.
Q: What are some newer meme coins that are still thriving?
A: Crypto All-Stars and Wall Street Pepe are two newer meme coins that are still generating excitement and attracting investors.
Q: What’s the difference between Crypto All-Stars and Wall Street Pepe?
A: Crypto All-Stars is a project that focuses on meme coins, while Wall Street Pepe is a project that offers actual utility, such as trading signals and alpha calls.
Q: Is the meme coin sector maturing?
A: It’s possible that the meme coin sector is finally maturing, as newer projects emerge and gain traction.
