Is the Bull Market Over? Meme Coins Plunge as TRUMP, FLOKI, and DOGE Turn RedBear Market or Temporary Lull?

The post-inauguration wave of meme coin mania appears to have fully unraveled, with the market now slipping deeper into bearish territory.

Leading meme coins such as TRUMP, FLOKI, and DOGE have dropped lower today — down 11.8%, 10.74%, and 8.14% in the past 24 hours, remaining far below recent highs.

Despite a brief slowdown in selling pressure, last week’s decline has continued into today, with no clear signs of a decisive bottom forming yet.

Bear Market or Temporary Lull?

While speculators may be quick to call a bear market, recent tremors are likely credited to wider fundamental concerns.

As the bull market matured and wider economic and geopolitical concerns—such as President Donald Trump’s “tariff war” and recent conflict between NATO allies—came into play, meme coins have suffered.

However, according to CEX.io exchange lead analyst Otychenko, the non-stop launch of new meme tokens shows that meme coin mania is not slowing down.

Around 50,000 meme coins are created daily on the Solana-based launchpad Pump.fun, “a pace that has remained strong over the past month,” he said, speaking with Cryptonews .

Sentiment towards meme coins has not changed, but liquidity is lapse with recent uncertainties.

Dogecoin Chart Shows that Meme Coins Could Make a Comeback if This Happens

As the market leader, Dogecoin (DOGE) is often regarded as the Bitcoin (BTC) of meme coins, making its price action a key indicator for the broader meme coin market.

DOGE / USDT 1D chart, significant support zone. Source: TradingView.

Its recent decline appears to have bottomed out at the $0.20 support zone, aligning with the breakdown target of a previous ascending triangle pattern.

More so, the Relative Strength Index (RSI) is starting to rebound after reaching deep oversold territory at 25—a sign that selling pressure has been exhausted.

A strong bounce from this level could confirm a local bottom and spark a new uptrend.

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