The decline in memecoins such as Pump.fun, Dogwifhat, and Pepe mirrors the broader downturn in the cryptocurrency market, as Bitcoin struggles to maintain its value amid recent fluctuations.
Recent Price Drops in Memecoins
- Pump.fun, Dogwifhat, and Pepe prices dropped significantly on Monday.
- This decrease coincided with Bitcoin falling to nearly $112,000.
- Adverse conditions for risk assets could further impact these coins.
Memecoins have experienced a severe backlash as Bitcoin’s recent surge above $117,000 has cooled, causing a downturn to around $112,000, which has negatively affected overall market sentiment and sparked profit-taking on altcoins.
In the past 24 hours, memecoins have emerged as one of the worst-performing categories in the market.
PUMP, WIF, and PEPE See Significant Losses
Among significant losers, Dogecoin, Shiba Inu, and Bonk have plummeted, but the decline has been particularly sharp for PUMP and WIF.
Pump.fun (PUMP) reached an all-time high of $0.01214 in July, but following general declines and profit-taking, it has fallen to a low of $0.0060 after hitting a peak of $0.0089 on September 14.
Having lost over 16% in the last 24 hours, Pump.fun’s decline reflects comparable downturns observed in Pi Network and Conflux within the top 100 cryptocurrencies by market capitalization.
PUMP’s price has dropped 25% over the past week, while panic selling has increased transaction volumes by 24% to over $598 million.
Likewise, Dogwifhat (WIF), a Solana-based memecoin, saw an 11% decrease to $0.8010 over the last day, with its transaction volume surging by 102% to more than $256 million amid widespread altcoin weakness.
Meanwhile, Pepe (PEPE), the Ethereum-themed frog memecoin, has also continued its slide into bear territory, consolidating around $0.0000097 after a 10% drop over the past 24 hours, with significant sales pushing daily volume up by 133% to $889 million.
Looking Ahead for Memecoins
The recent market collapse raises questions about whether more pain is in store as the industry approaches what is termed “Uptober.” Analysts suggest that further declines are likely.
Bitcoin down. Altcoins down more.
Nature is healing.
— The Wolf Of All Streets (@scottmelker) September 22, 2025
In the short term, the memecoin downturn signals a broader contraction in the cryptocurrency market, where the total capitalization has dipped below $4 trillion amid price collapses of Bitcoin and Ethereum.
The cryptocurrency landscape is influenced by a multitude of factors, including macroeconomic conditions affecting risk assets, such as Federal Reserve policies, trade dynamics, and inflation trends.
Key data releases scheduled for Friday, along with anticipated ETF approvals in the coming weeks, will play a crucial role in market recovery.
A rebound in Bitcoin’s value could pave the way for a resurgence in memecoins within the cycle’s bullish prospects.
John is a seasoned journalist at The Bothside News, specializing in balanced reporting across news, sports, business, and lifestyle. He believes in presenting multiple perspectives to help readers form informed opinions. His work embodies the publication’s philosophy that truth emerges from examining all sides of every story.
