Memecoin in a comprehensive decline – is the speculative wave fleeing?

Observing the statistics table for top memecoins today, I no longer see the scene of “a new star every day”. Instead, there is a widespread red: prices down, volumes down, OI down – all pointing to one thing: the profit-taking phase is occurring simultaneously.

DOGE, PEPE, SHIB, WIF… all dropped over 6–11% in 24 hours.

In particular, MOODENG lost more than 25%, while PNUT decreased nearly 45% in volume, a tremendous drop. This is no longer just a shake, but a sign of massive liquidity withdrawal from the memecoin group.

The overall market OI also shrank significantly:

PEPE: -8.74%

SHIB: -13.40%

BONK: -15.33%

MOODENG: -38.75%

This indicates that both leverage traders and spot holders are closing their positions. Once OI decreases alongside falling prices, there’s no doubt: money is exiting, not entering.

I particularly note that the funding fee is still positive for most coins, meaning that the long side still holds the majority, yet prices are plunging. This is a familiar formula for a complete “long squeeze”.

Personal perspective:

I am not in a hurry to catch the bottom of the memecoin group right now. This is inherently a high-speculation area, and when the FOMO sentiment is gone, buying power will dry up very quickly.

I will only return when there are at least 2 factors:

1. Bottom-fishing volume starts to increase again

2. Funding turns negative while prices no longer decline sharply

For now, observing and preserving capital is more important than catching a falling knife.