TL;DR

• DOGE is down

• SHIB is down

• Solana Meme Coins Plummet as Insiders Cash Out

• Raydium (RAY) Plunges as Pump.fun Tests AMM

• Ex-CFTC Lawyer Pushes for Memecoin Regulation

• Can Kanye’s Crypto Avoid the Memecoin Collapse?

• Pump.fun X Account Hacked, Users Warned

• Bybit Hackers Linked to Solana Memecoin Scams

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Dogecoin Price

Crypto is down this week, with DOGE down 20.1% and SHIB down 6.6%:

Weekly Analysis

This weekly analysis is majorly on the top two MEME coin

Dogecoin has erased most of its post-election gains, dropping below $0.20 after surging to $0.48 in December following Donald Trump’s victory. CoinGecko data shows DOGE is now one of the biggest losers among top cryptocurrencies, falling over 19% in the past week.

Open interest has plummeted from January’s all-time high of $5.25 billion to $1.87 billion, signaling a decline in trader engagement. Despite Musk’s association with the token and his appointment to lead the Department of Government Efficiency (DOGE), enthusiasm has cooled. Musk himself stated he is “not actively involved in crypto.”

Market-wide bearish sentiment, including concerns over meme coin scams, trade tariffs, and inflation, has led to an exit from speculative assets. Solana-based meme coins also suffered heavy losses, reinforcing the downturn.

The DOGE department, created to modernize federal technology and efficiency, initially fueled a rally, but the effect was short-lived. Bloomberg analysts estimate a 75% chance of Dogecoin ETF approval in 2025, which could drive renewed interest. Meanwhile, Tesla’s stock is down 30% since the election, reflecting broader skepticism around Musk’s political alignment.

Despite the downturn, Dogecoin remains a top 10 cryptocurrency with a $30.6 billion market cap and over $2 billion in daily trading volume. The upcoming ETF decision and further developments in regulatory acceptance will be key in determining DOGE’s next move.

Shiba Inu (SHIB) is showing mixed signals as burn rates rise and whale activity surges. Over the past 24 hours, 2.14 million SHIB were burned, increasing the burn rate by 107.5%, according to Shibburn. In the past week, 125.96 million SHIB have been removed from circulation.

Despite a 20% drop in the past month, SHIB’s profitable wallets increased from 35.15% in February to 38.65%. However, Shibarium daily transactions have dropped sharply to 61,780 from the previous 4 million level.

Analyst Paul Endeo highlights $0.0000147 as a critical support level. Holding this could push SHIB 20% higher to $0.00001718, while failure may lead to an 11% drop to $0.00001261. Whale transactions exceeding $100,000 rose 30.9%, signaling continued investor interest.

Javon Marks sees a 450% rally ahead, citing SHIB’s continued hold above its late 2022 breakout level.

He projects a climb to $0.000081, supported by long-term bullish signals. While the near-term outlook remains uncertain, analysts suggest SHIB’s slow upward trend strengthens its long-term potential.

Currently, SHIB trades at $0.00001446 with an $8.5 billion market cap and $273 million in daily volume. Market watchers are monitoring a possible death cross, which historically triggered price rallies in 2023.

Financial News

Solana Meme Coins Plummet as Insiders Cash Out

Solana’s meme coin market has crashed, wiping out $15 billion in value. The sector’s total market cap has plunged from $25 billion in January to $10 billion. Key tokens like Official Trump, Pudgy Penguins, and Melania Meme have suffered massive losses, with insiders and early adopters profiting before dumping.

Pump.fun and Solana DEX platforms have benefited from high trading volumes, while Solana continues leading meme coin launches due to its low fees and high-speed transactions. Despite strong community interest, retail investors face heavy losses as market enthusiasm cools and the broader Solana ecosystem declines.

Meme Coin Crash Weighs on Crypto, but Bitcoin Recovery Likely

Bitwise CIO Matt Hougan says the meme coin boom is ending, dragging down the crypto market. Bitcoin fell below $90,000, while meme coins like TRUMP and MELANIA plunged over 14%. Scandals, including LIBRA and illicit activity, contributed to the downturn.

Despite $1.5 billion in liquidations, Hougan remains bullish on Bitcoin, stablecoins, and DeFi, expecting institutional adoption and tokenization to drive recovery. He warns the market will struggle until these trends gain momentum but sees altcoins benefiting from increased investment and regulatory clarity.

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