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Dogecoin and Shiba Inu continue to slide, leaving meme coin investors wondering when this current downturn will end.
Both coins have struggled to gain traction in early 2025.
Meanwhile, one crypto expert is watching MIND of Pepe – a new AI-meme hybrid that he thinks could explode once its presale ends.
DOGE and SHIB Prices Nosedive as Meme Coin Market Faces Saturation
The OG meme coins are taking a beating this week.
Dogecoin has fallen to $0.20, shedding nearly 12% of its value in the past 24 hours – and 21% from Friday’s local high.
This marks DOGE’s lowest price since the brief flash crash on February 3rd.
SHIB isn’t faring any better.
Trading at $0.000013, SHIB has lost 10% since yesterday and 15% from last Friday’s peak.
Both coins share similar technical patterns, and neither looks particularly healthy right now.
So, what’s behind this slide?
While spot trading volume for DOGE has surged 150% in the past day, this is likely due to selling pressure rather than bulls accumulating.
For SHIB, falling open interest suggests traders are closing positions rather than opening new ones.
The broader issue might be market saturation.
The meme coin space has become incredibly crowded, with dozens of new tokens launching daily, especially on Solana.
When too many similar coins flood the market, attention gets diluted, and even the likes of DOGE and SHIB struggle to post gains.
Crypto Market Tumbles as Trump’s Tariff Plans Trigger “Extreme Fear”
The meme coin meltdown isn’t happening in isolation.
The entire crypto market is red right now, with Bitcoin dropping below $90,000 after losing 6% of its value since yesterday.
Ethereum took an even harder hit, down 11%, while Solana crashed almost 14%.
Look across the top 50 cryptocurrencies, and you won’t find a single one that’s in the green.
This market-wide flush seems triggered by President Trump’s announcement that his planned 25% tariffs against Mexico and Canada are “going forward on time, on schedule” after a brief 30-day pause.
The news sent crypto sentiment plunging – with the Fear & Greed Index falling to 25 overnight.
That’s firmly in “Extreme Fear” territory.
This pattern follows what happened earlier in the month when Bitcoin tumbled after Trump first announced the tariffs.
Add in stubborn inflation data (January’s CPI jumped more than expected) and delayed Fed rate cuts, and you’ve got a recipe for bearishness.
That’s partly why Dogecoin and Shiba Inu are selling off today.
MIND of Pepe Hits $6.8M in Presale as AI-Powered Meme Coin Receives Expert Backing
While the big names struggle, some newer projects are swimming against the tide.
One is MIND of Pepe, which has been gaining momentum in presale and has already raised $6.8 million despite the broader market downturn.
This project stands out because it’s one of the first to combine meme culture with functional AI tech.
Unlike “pure” meme plays, like DOGE and SHIB, MIND of Pepe has built-in utility – its AI agent analyzes trends, social sentiment, and on-chain data.
It then provides MIND token holders with actionable insights.
Crypto expert Austin Hilton recently called it the “best new AI crypto project” he’s seen.
He noted that many AI crypto projects are all talk, but MIND of Pepe is delivering something useful.
And that could translate to massive demand for the MIND token once it hits exchanges.
The Book of Pepe. $MIND pic.twitter.com/nAICSUkZfH
— MIND of Pepe (@MINDofPepe) February 24, 2025
MIND of Pepe’s tokenomics are also well-balanced.
The team has allocated 30% to development and 25% to the AI agent itself.
Early investors can also stake their tokens for attractive yields.
With the AI crypto sector’s market cap now at $22 billion, projects that combine an in-demand use case with viral appeal could thrive.
So, while DOGE and SHIB struggle, newer coins like MIND might have better prospects.
Visit MIND of Pepe Presale
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