Over the past bull market, in what’s popularly often known as the Solana meme coin season, numerous new cryptocurrencies made their method to the forefront. These digital belongings had gone from market caps within the tens of tens of millions to cross the billion-dollar market cap, typically in solely a matter of months. As a consequence of their fast development price, these meme cash have shortly garnered a large holder base. Nevertheless, because the bear market has rolled round, these billion-dollar meme cash have crashed by a big margin, fully eliminating nearly all of their good points.
POPCAT Meme Coin Goes From $2 Billion To Under $50 Million
POPCAT is among the most recognizable names to come back out of the Solana meme coin season, however its development trajectory is much more attention-grabbing. When the meme coin’s worth crossed $1 again in 2024, it truly grew to become the primary cat-themed meme coin to formally cross this main milestone.
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The whole development from lower than $1 million to over $2 billion occurred in lower than one yr, exhibiting one of the crucial spectacular meme coin rallies in historical past. Much more attention-grabbing is the truth that the meme coin didn’t cease there, finally reaching $2 billion earlier than reaching a high.
Nevertheless, because the preliminary decline, which started again in November 2024, the worth has now crashed by greater than 97%. It has gone from $2.05 per coin on the peak, with the meme coin’s market cap dropping beneath $50 million as it’s at the moment buying and selling at $0.05 on the time of writing. This categorizes it as one of many worst crashes that has plagued a beforehand high meme coin.
Cats In A Canines World (MEW) Drops Quickly
In contrast to POPCAT, Cats in a Canines World (MEW) had made its entrance to the meme coin market ‘totally shaped.’ The meme coin had burst into the scene with its market cap already buying and selling above $100 million, incomes it allegations that it was a ‘cabal coin.’
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Nonetheless, the meme coin had continued to maneuver upward, finally topping simply above $1.2 billion. This was earlier than the bear market hit, and the worth started to fall once more in November of 2024. Since then, the worth has fallen by greater than 95%, with its market cap now sitting at a mere $50 million.
Peanut The Squirrel (PNUT) Meme Coin Disappoints Buyers
Peanut The Squirrel (PNUT) is a meme coin named after an Japanese grey squirrel which went viral after its lifeless in 2024. The dying of the squirrel had led to public outcry after it was put down by the New York State Division of Environmental Conservation (DEC), and the meme coin was born not lengthy after.
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Following its launch, the meme coin shortly gained prominence, gaining help from the Binance crypto trade and shortly getting listed. Because of this, it was in a position to cross $1 billion market cap in lower than one month, changing into the quickest on this record to succeed in the milestone.
Identical to its development trajectory was quickest, the PNUT meme coin has suffered essentially the most when it comes to losses. In keeping with knowledge from the Coingecko web site, the coin is down greater than 98% since November 2024 and is now sitting at a $40 million market cap.
Featured picture from Dall.E, chart from TradingView.com
