Momentum in the crypto market has ground to a near-halt over the last couple of days and meme coins are suffering the most for it. As market participants remain wary of their investment options, the likes of PEPE, SHIB, and DOGE have continued to decline, signaling an end to the short meme coin bull run experienced in April.
Meme Coin Momentum Slows Significantly
Meme coins have been one of the hardest hit presently as both large and small meme coins have been on a decline. For example, PEPE, a meme coin that rose into prominence in April, has lost over 60% of its early May all-time high value and is still recording losses of 7.5% in the last 24 hours.
Likewise, Dogecoin (DOGE), the largest meme coin in the space has not had it easy as well. The digital asset is still holding on to its support above the $0.07 but bears continue to threaten its ability to recover. Just like PEPE, DOGE is seeing a decline in the last day, albeit to a lesser degree, with 1.8% losses during this time perio
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