
September 15th, 2025
Crypto traders saw their leveraged positions forcibly closed as the coin’s value dropped below critical levels.
Between July 1 and 15, DOGE saw its value drop by more than 50%, while PEPE plummeted by 36%. Other meme coins like Dogwifhat (WIF) and Shiba Inu (SHIB) also declined dramatically during the same period.
Cyvers had detected the suspicious transactions and attempted to contact WazirX 30 minutes prior to their public announcement, but received no reply.
PEPE saw a surge of 24% in the past 24 hours. Currently, the token boasts a market cap of $4.9 billion.
The rapid rise of meme coins can be attributed to their viral nature and the strong communities behind them.
Pepe reached an all-time high of 256,000 holders, bringing the attention of the digital asset sector to the meme coin.
The decline of these three tokens has also affected the entire meme coin market. The meme sector is currently valued at around $43.21 billion.
WIF has seen its value soar by more than 900% over the past year. Similarly, PEPE has surged by approximately 500% during the same period.
The cryptocurrency market continues to endure a severe downturn, resulting in the liquidation of 32,916 traders.
The meme coin crypto industry led by Pepe and Shib has dramatically reduced in valuation in the past four weeks to around $47 billion on Tuesday.
The bear market has taken a toll on the cryptocurrency world, and memecoins are feeling the impact. Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE), some of the best-performing meme assets of the year, are retesting their previous lows.
The significant adoption of the Shiba Inu (SHIB) ecosystem in the recent past has been fueled by the notable Shibarium growth.
Despite selling a significant portion of his holdings, the whale retains 28% of his wallet in Trump tokens, valued at approximately $372,000.
Bitcoin’s decline triggered a chain reaction, impacting other cryptocurrencies, including Ethereum, which dropped 2.18% to around $3,440, while meme coins like Shiba Inu, PEPE, Dogwifhat, and Floki fell over 10%.
The liquidations primarily took place on centralized exchanges, with Binance recording the largest single liquidation order of around $4.21 million.