Memecoins are cryptocurrencies that begin with an internet meme or a joke. Speculative and volatile, they are held up by skeptics as proof that crypto will never compete with traditional finance.

POPCAT has lost 42% of its market cap since TRUMP launched, SHIB and DOGE are both 15% lower and PEPE is down by 22%. The combined market cap loss from these four tokens alone is $13.5 billion, and that doesn't include the double-digit declines of WIF, BONK and 100's of other memecoins.