Meme Coin Bloodbath Today: DOGE, PUMP, BONK, and Many More Collapse by Double Digits

TL;DR

• Popular memes declined to multi-week lows today (September 22).
• MemeCore (M) is the only top-20 meme coin in the green, rising 1% to $2.55. It’s up over 460% monthly, now ranked the third-largest meme coin, with analysts calling for targets between $3.40 and even a bold $10.

The Meme Coin Sector Takes a Blow

Many of the leading cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Hyperliquid (HYPE), have headed south today (September 22) as a result of a significant correction. Countless meme coins were caught themselves in the middle of the storm, registering even more substantial losses than the industry leaders.

Dogecoin (DOGE), the biggest in the niche, posted a 10% price decline on a 24-hour scale to around $0.24, whereas its largest rival, Shiba Inu (SHIB), slipped by 6% to a 17-day low of $0.00001213.

Pump.fun (PUMP) crashed by 16% for the past day, Pudgy Penguins (PENGU) tumbled by 12%, whereas BONK (BONK) retraced by 10%. 

The total market capitalization of the meme coin sector collapsed to approximately $77 billion, or a 10% decrease in a single day.

The Lone Survivor

The only meme coin (part of the top 20 club), which has registered a minor increase for the past 24 hours, is MemeCore (M). The asset, which has lately become a sensation in the crypto market, is up a mere 1% and currently trades at around $2.55.

Its gain on a monthly scale is much more impressive. M has skyrocketed by over 460% within that period, thus flipping well-known names like PEPE, TRUMP, FLOKI, WIF, and many more, to become the third-biggest meme coin. Those curious to see what possible catalysts might have fueled M’s rally could read our dedicated article here. 

The token remains the subject of optimistic price predictions, with some industry participants believing its top is yet to come. The X user Sjuul | AltCryptoGems recently described M as “simply a beast, pushing higher and higher.”

He claimed the asset broke “every single Fibonacci extension level into fresh all-time highs,” forecasting a rally to $3.40. 

Crypto Monkey chipped in, too, outlining a rather preposterous (at least as of now) target of $10. “Strength is unreal,” they argued. 

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