Doge fell 8% in 24 hours, leading the top 100 crypto assets in decline, dragging down the entire meme coin group as Bitcoin retreated from its four-week high.
Just one day after leading the market in gains, Dogecoin ( Doge ) quickly reversed course, becoming the biggest loser among the top 100 cryptocurrencies by market Capital , according to CoinGecko data.
This Token lost approximately 8% of its value within 24 hours, bringing the trading price down to around $0.094 and sending Doge into weekly bearish territory. This development coincided with Bitcoin's slide to the $71,000 region after approaching $74,000 on Wednesday – its highest level in four weeks.
Doge 's sudden reversal didn't surprise analysts. Danny Nelson, a research analyst at Bitwise, had warned beforehand that Doge 's surge on Wednesday shouldn't be interpreted as the start of a sustained bull cycle for the meme coin group.
According to him, Dogecoin operates on an attention economy – its value can only truly increase when the community size and level of public interest expand – and Wednesday's market rebound did not generate enough media catalyst to sustain that upward momentum.
Meme coins all fell, the only group in the red across the market.
Doge 's decline triggered a widespread weakening in the meme coin segment. It was the only asset class among the 20 by market Capital tracked by CoinGecko to record a decline in the past 24 hours. The total market Capital of meme coins decreased by approximately 0.5% daily and 8.3% weekly. Prominent coins like PEPE and Bonk lost 5.7% and 2.9% respectively after their strong gains in the previous session.
Selling pressure also spread to meme coins on Solana. Fartcoin fell about 4.9% in 24 hours, extending its month-long decline to nearly 19%, trading around $0.16 – equivalent to a 93% drop from its all-time high of $2.83 set in January 2025. The TRUMP Token – the official meme coin named after President Donald Trump on the Solana network – also fell about 6.5%, trading around $3.23 and currently nearly 96% lower than its peak of $73.43.
Looking at the broader picture, Doge has now fallen approximately 87% from its all-time high of $0.73 set in 2021 – the time when the cryptocurrency received public endorsement from billionaire Elon Musk. This week's developments once again reflect the nature of meme coins: extremely volatile in both directions, but lacking the fundamental basis to sustain upward momentum as external catalysts fade.
