DOGE and WIF big dump, Meme Coin investors face a reality test

DOGE and WIF are feeling the pressure now.

DOGE has big dump to 0.29 US dollars, the lowest price since November 11th.

Over the past week alone, the token has lost $16 billion in value.

The big dump of DOGE has left traders in a flurry, wondering how far the OG meme token will fall.

The performance of DogWifHat, which takes dogs as mascots, is not good.

WIF fell to $1.87, a 34% drop since its local high on Tuesday.

Even worse, the decline in open contracts indicates that traders are beginning to lose confidence in the token.

SHIB, PEPE, and BONK also suffered double-digit losses in the past 24 hours.

The sell-off affected all top tokens, only Fartcoin successfully achieved a slight increase.