The crypto market has been badly hit, with a drop of roughly 50% over the past three months. Some tokens are down more than 90% from their all-time highs. Painful? Yes. Surprising? Not really.

Some analysts say this is a necessary cleanse, wiping out weak projects and overhype. But not every meme coin is in the same situation.

Here’s a quick look at the well-known players below:
DOGE still shows a relatively clear structure, and remains cautiously optimistic about potential upside moves in the future. SHIB has a strong community, but its valuation relies more on speculation than fundamentals. BONK is facing harsh questions about its long-term strength and whether it can recover. FLOKI is also dealing with a similar momentum dilemma. PEPE looks like a mid-tier contender—possibly better positioned to survive into the next cycle.

The broader market seems to be moving away from purely narrative-driven games, toward projects with real utility and actual demand.

Not every pullback turns into a rebound. Some projects do recover. Others just fade away gradually.

The next cycle will likely reward quality, not hype.

Not financial advice. Please always do your own research #夏日创作营