- TRUMP and SHIB lead memecoin declines, dropping 33.1% and 27.9%, respectively.
- Ethereum outperforms Solana, gaining 2.78% weekly as SOL falls 10.08% in value.
- Bitcoin remains flat, showing resilience amid broader memecoin market weakness.
Memecoins are facing significant declines, with major assets like Trump (TRUMP) and Shiba Inu (SHIB) leading the outflows. According to Glassnode data, TRUMP has dropped by 33.1%, while SHIB has fallen 27.9%.
Memecoins are seeing steep declines, with $TRUMP (-33.1%) & $SHIBA (-27.9%) leading the outflows. Meanwhile, Bitcoin remains flat, showing resilience in uncertain conditions: https://t.co/6zMhizg56N pic.twitter.com/Bra1cnVX4Q
— glassnode (@glassnode) February 21, 2025
Other notable drawdowns include Bonk (BONK) at -6.92%, Pepe (PEPE) at -6.81%, Solana (SOL) at -2.65%, and Ethereum (ETH) at -0.84%. Meanwhile, Bitcoin remains flat, showing resilience amid broader market volatility. Ethereum is holding up better than Solana, indicating a potential shift in liquidity flows.
Broader drawdowns: $BONK (-6.92%), $PEPE (-6.81%), $SOL (-2.65%), $ETH (-0.84%). Notably, #Ethereum is holding up better than #Solana, signaling a potential shift in liquidity flows.
— glassnode (@glassnode) February 21, 2025
TRUMP and SHIB Face Steep Losses
Official Trump (TRUMP) is trading at $17.00, with a 24-hour trading volume of $789.7 million. The asset has gained 0.97% in the past 24 hours but remains largely unchanged over the past week. Its market cap stands at $3.39 billion, supported by a circulating supply of 200 million TRUMP tokens.
Similarly, Shiba Inu (SHIB) is priced at $0.00001574, with a trading volume of $160.8 million in the last 24 hours. The token has risen 2.38% in the past day but has declined by 4.62% over the week. SHIB’s market cap currently stands at $9.27 billion, backed by a supply of 590 trillion tokens.
Broader Market Weakness Impacts Memecoins
BONK is trading at $0.00001652 after a 5.07% increase in the last 24 hours. However, it has dropped by 7.53% over the past seven days. Its market cap is $1.27 billion, with a supply of 77 trillion tokens.
PEPE has also gained 5.11% in the last 24 hours, bringing its price to $0.0599. Despite this, the token remains 1.29% lower over the past week. PEPE has a market cap of $4.16 billion, with a circulating supply of 420 trillion tokens.
Meanwhile, Solana (SOL) has seen a 3.28% increase in the past 24 hours, trading at $177.78. However, its weekly decline of 10.08% indicates ongoing weakness. SOL’s market cap stands at $86.8 billion, with a supply of 490 million tokens.
Ethereum Outperforms Solana
Ethereum (ETH) has gained 1.92% in the past day and 2.78% over the last seven days. Trading at $2,779.43, ETH has maintained its strength despite market turbulence. Its market cap is $335.2 billion, with a circulating supply of 120 million tokens.
