According to Zhitong Finance APP, the popular MEME coin Dogecoin has fallen to $0.31, almost a quarter down from last week.
At the same time, as the largest cryptocurrency by market capitalization, Bitcoin reached a historical high of $108,000 last week but has now fallen to around $95,000.
Dogecoin's price dipped to $0.267 last Friday, marking the lowest value in over a month.
However, in the past 12 months, the token has still achieved a 233% increase.
With Elon Musk, a supporter of Dogecoin, being appointed as the head of the U.S. 'Department of Government Efficiency' (DOGE), there are speculations that Dogecoin may see a remarkable surge during Donald Trump's presidency.
Last week, the Federal Reserve lowered interest rates by 25 basis points as expected, but decision-makers were more cautious about future cuts, causing Bitcoin's price to drop.
The global market is considering the expectations of the Federal Reserve's dovish stance weakening in 2025, leading cryptocurrency traders and market makers to reduce their risk exposure.
Overall, since Trump's election, the value of MEME coins has risen significantly.
Since November 6, the market capitalization of MEME coins has exceeded $66 billion, reaching a seven-month peak.
MEME coins are like candy in the cryptocurrency world; they are interesting, eye-catching, and easily accepted, but they are not ideal long-term investment options.
Even so, it plays a key role as an entry point for young investors entering the cryptocurrency space.
The challenge we face now is to guide those new to the space to grow into knowledgeable participants, helping them move away from MEME coins and invest in projects with actual application value.
While MEME coins can attract people to participate, sustaining their long-term involvement will rely on a larger cryptocurrency community.
MEME coins and community-driven projects may thrive in a more relaxed environment, but the real core of development is about legitimacy.
The days of driving up and selling MEME coins for headlines may gradually be replaced by community tokens with real utility.