In the past month, meme coins have experienced a significant decline, losing nearly $40 billion in value. Dogecoin, the leading meme token, saw a 37.61% drop in value, contributing $18.22 billion to the overall decline. Other meme tokens such as Shiba Inu and Pepe also saw notable decreases in value. Additionally, the official TRUMP token and Bonk struggled, with significant losses in market cap. The meme coin sector is facing criticism for its speculative nature and lack of sustainable foundations. However, despite skepticism, the meme coin market cap has surpassed $100 billion over the past year.



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