Pepe (PEPE) and DogWifHat (WIF) have faced pressure in the past few days, dropping significantly as investors opt to take profits.

Meanwhile, new coin Pepe Unchained (PEPU) is telling a different story – with its presale fast approaching the $24 million milestone.

Meme Coin Market Sells Off as PEPE & WIF Suffer Losses

It’s been a crazy period for meme coins, and this week has been no exception.

After a string of gains, both PEPE and WIF have taken a hit since Wednesday.

PEPE’s price is down 9%, while WIF has been less fortunate, falling by almost 11%.

However, the pain hasn’t stopped there.

Even bigger names like DOGE and SHIB, along with smaller coins like POPCAT, haven’t been immune to the bearishness.

These drops have brought the total meme coin market cap down to $60 billion, and traders are now trying to figure out what’s next.

Was this just a breather after a bullish streak, or is something more alarming on the horizon?

Legendary meme coin trader Murad believes it’s the former.

He tweeted earlier this week that we are still in the “early stages” of the meme coin supercycle.

Market Jitters & Liquidation Woes Hurt Bitcoin’s Progress

It’s not just meme coins like PEPE and WIF that have taken a hit.

Bitcoin has also struggled in the past few days and is now hovering around $70,100 after dropping as low as $68,800 earlier today.

That’s a 4% drop from Tuesday’s high.

This drop has made things rough for those using leverage, as over $76 million in long positions were liquidated in just the past day.

A few things are putting a dampener on the market.

Coinbase released a poor quarterly earnings report that missed the mark on profit and revenue, which worried traders.

The company’s stock price has fallen 19% in the past three days.

Then there’s the political space; according to Polymarket, Trump’s chances of w