According to data provided by cryptocurrency analytics platform Lookonchain, dogwifhat (WIF) and Shiba Inu (SHIB) are among the worst-performing meme coins. The two aforementioned cryptocurrencies are down 70.93% and 70.86%, respectively, from their 52-week highs.
Earlier this year, Solana-based meme coin upstart WIF stole the spotlight with a massive rally that took the meme coin to its current peak of $4.83 on March 31. Since then, WIF has dropped by more than 70.5%.
However, some experts remain unbothered by the significant correction. As reported by U.Today, Murad Mahmudov, a former Goldman Sachs analyst, recently predicted that WIF would end up being among the big SOL winners in 2025 despite recently losing its bullish momentum. This came after cryptocurrency research firm Cryptonary wrote that its "base case" prediction for the red-hot meme cryptocurrency was $10.
Vladislav SopovMeanwhile, the price of SHIB peaked at $0.0000456 on March 5 before giving up its impressive gains. The leading "Dogecoin killer" is down as much as 84.6% from its record high that was achieved roughly three years ago.
From bad to worse
The performance of the leading meme cryptocurrencies has been more than underwhelming across the board, meaning that WIF and SHIB are far from being the outliers in this sector.
Dogecoin (DOGE), the top meme coin by market cap, is down 57.93% from its 52-week peak. Pepe (PEPE), another major cryptocurrency from the sector, has also plunged by more than 58%.
For comparison, Bitcoin is down 21.7% from its all-time high that was achieved in March.
Arman Shirinyan
Dan Burgin
Vladislav Sopov