Meme News: Bitcoin Massacres Meme Coins Despite DOGE ETF News

Introduction

Mama Meme-a! This week, Bitcoin slid below $90,000 to hit a six-month low, marking the worst correction since 2017. BTC has bounced back to $91,700 but sits 27% below its all-time high.

Source: CoinMarketCap

However, this is not the first time the crypto market has experienced declines of this magnitude.

Naturally, fear has taken over as the prospects of a rate cut at the December Federal Open Market Committee (FOMC) slumped to 33% on prediction markets.

These conditions have not been kind to altcoins, with the leading meme coins extending their losses since the historic October crash.

Here’s some news from the meme coin sector this week.

A Dogecoin ETF could hit the market as early as Monday, with Grayscale aiming to convert its existing DOGE trust into a fully tradable product. The SEC’s 20-day window is ticking, and if no objections land, DOGE may soon debut on the New York Stock Exchange.

Libra-linked wallets withdrew nearly $4 million from the meme coin and instantly transferred it to Solana, securing over $61.5 million in SOL at the dip.

7-Day Meme Coin Market Snapshot

Degens are offloading their bags as the market goes up in flames, with analysts claiming data is pointing to a deleveraging cycle. The sector’s market cap fell 12% to $44.3 billion, while the trading volume took a 7% hit to $5.5 billion as traders sit out this round.

Meme Launchpad Wars

Per Adam_tehc’s Dune dashboards, Pump.fun is the number one meme coin factory after more than 15,000 tokens were created from the launchpad in 24 hours, far outpacing all its competitors combined.

Meme Coin Market vs Other Crypto Sectors

Meme coins moved up the ladder on DeFiLlama’s narrative tracker, climbing from ninth to sixth week-on-week.

Top 20 Meme Coin Leaderboard

Only two of the top 20 meme coins printed green weekly candles while the rest suffered double-digit losses. How far are we from the bottom?

CMC Meme Coins Page

Meme Coin Charts: 7-Day Insights

Biggest Gainers (7D%)

Biggest Decliners

Meme Coin News

1. Hawk Tuah Drama Returns

Haliey Welch, AKA “Hawk Tuah” girl, has been added to the lawsuit over last year’s failed meme coin launch, with filings claiming she was potentially paid up to $325K to promote a token allegedly engineered to crash so insiders could cash out.

Chain-Specific Highlights

Solana Memes

Solana’s heavyweights are on a downtrend, with BONK sliding 17%.

Ethereum Memes

Shiba Inu fell 12%.

BSC Memes

BUILDon (B) is up 9% while 币安人生 (币安人生) suffered a 15% decline.

Sui Memes

HIPPO erased most of its gains after rallying +200% last week.

Base Memes

This was a week where shorting Base’s top meme coins was profitable.

What Can You Do Next?

Stay disciplined and enter positions only when your setup is clear.
Reduce leverage to keep your capital intact during sharp market swings.
Monitor macro shifts to position early for changing market conditions.

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