The cryptocurrency market is in turmoil, with Bitcoin and Ethereum plunging below their recent prices. Meme coins also took a hit, dropping by 4.11% and seeing a significant decrease in trading volume. Dogecoin, Shiba Inu, and PEPE all experienced substantial declines after a period of gains, with SHIB briefly entering the top 10 before the downturn.

Despite being among the top players, DOGE and PEPE suffered losses in market capitalization and trading volume. This shift indicates a potential change in dominance within the meme coin sector. DOGE, although still leading, saw a decrease in daily addresses interacting with it, signaling a possible decline in popularity.

In the meme coin market, DOGE holds the top spot, followed closely by SHIB and PEPE. However, PEPE took the hardest hit, experiencing a significant drop in value despite reaching an all-time high earlier in the week. The fluctuation in these assets highlights the inherent volatility of the crypto market, particularly in the meme coin sector, cautioning investors to trade carefully.