Is that meme coins are just a meme??? 😳😳

Meme coins have plummeted, with Shiba Inu (SHIB) dropping over 20% in a week to $0.000020, marking a 43% loss for investors. Top meme tokens like Dogecoin, Pepe, and Bonk have also suffered, reflecting the broader crypto market downturn fueled by Bitcoin's recent slump.

On-chain data from IntoTheBlock reveals 43% of SHIB holders are at a loss, with bearish indicators dominating. Whales are liquidating, as seen when one sold 250 billion SHIB for $6.05M. Meme coins, highly speculative assets, remain volatile, with market value dropping 16% to $97.4B.

Analysts warn of a bear market ahead.