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The meme coin category is one of the most volatile areas of the cryptocurrency market. The process that started with Dogecoin (DOGE) peaked again in 2023 with Pepe coin after Shiba Inu (SHIB). The market, which stagnated after Pepe's progress, became one of the categories that lost the most value in recent days, even though it was activated by 2.0 trials.
Pepe coin has dropped nearly 64% from its peak in May 2023, to 0.00000155 levels. There is also a significant loss in meme coin volume, which has risen after the Ordinals craze. Although they have been on the agenda again with assets such as Pepe 2.0 and Wojak 2.0 in the past days, the short-term excitement created by meme coins seems to have left its place to stagnation at this stage.
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