The meme coin sector has lost more than 50% of its value over the past three months, prompting one analyst to argue that the long-awaited shakeout could permanently sideline several once-popular tokens.
But Dogecoin (CRYPTO: DOGE), they say, still has a chance to outperform in the next bull market.
Leading Meme Coins Hitting The Wall In a series of posts on X on Monday, crypto analyst Kevin said many leading memecoins are running out of momentum after suffering drawdowns of more than 95% from their all-time highs.
He singled out Shiba Inu (CRYPTO: SHIB), BONK (CRYPTO: BONK) and Floki (CRYPTO: FLOKI), arguing their rallies were driven primarily by speculative hype rather than sustainable fundamentals.
"Major meme coins are hitting the wall, and many may never see new all-time highs again," Kevin said.
