As the cryptocurrency segment is losing value today, the meme coins vertical is affected the most. All the largest meme cryptocurrencies are in the red today with Pepe (PEPE) and Bonk (BONK) posting devastating double-digit losses. Some previous spotlights of the sphere lost their positions in the top 100.
Crypto markets plummeting, PEPE and BONK amid worst performers
Today, on May 31, 2025, the cryptocurrency segment is under fire. The aggregated market capitalization erased $147 billion in just 24 hours. Meme cryptocurrencies are feeling the worst pain. Pepe (PEPE), the largest frog coin, is down by 12.1% today, CoinGecko data says.
Image by CoinGecko
PEPE's price dropped to multi-week lows at $0.0000113. PEPE market capitalization plummeted below $4.7 billion. PEPE is now down by 60% compared to its all-time high registered Dec. 6, 2024.
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SPX6900 (SPX), the most popular meme coin of Murad Mahmudov's portfolio, is down by 13%. The SPX price dipped to $0.9595, hitting a local low.
The Bonk (BONK) cryptocurrency's price plummeted to $0.00001587, losing 10.3% overnight. On shrinking trading volume, Bonk's (BONK) capitalization plunged to $1.29 billion.
The largest meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), are also losing value today. Dogecoin's (DOGE) price plunged to $0.189, losing 7.8% overnight. Shiba Inu (SHIB), the second largest meme coin, saw its price drop to $0.00001254.
WIF, FLOKI lost positions in top 100
The net capitalization of the meme coin segment is down by 12%. Within this vertical, the worst-performing classes are frog-themed meme coins (16.1% lost in 24 hours), Murad Mahmudov's meme coins (16% lost) and Solana-based meme cryptos (13.8%).
Also, some of the top-league meme coins have already lost their spots in the top 100. Dogwifhat (WIF), a pioneering major stablecoin on Solana (SOL), plunged by 18.6%. From 10-digit waters, WIF's capitalization dropped to $818 million in just 24 hours.
Floki (FLOKI), another big community meme coin, hit $0.00008003 after losing 13.5% in 24 hours. Based Brett (BRETT) plummeted to $0.0501 with 14.5% lost overnight.
Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies, are down by 1.5% and 2.5%, respectively. Bitcoin (BTC) is attempting to stay above the $2 billion capitalization.
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