These 3 Solana Memecoins Crash Over 12% in a Week, Why?

Jakarta, Pintu News – In the past week, three popular memecoins on the Solana network experienced a sharp correction with price drops of more than 12%, raising concerns among crypto investors.

This comes amid a trend of weakening global dominance of memecoins, which have fallen to an 18-month low. This phenomenon cannot be separated from the shift in market focus towards Ethereum season, where Ethereum (ETH) absorbs most of the altcoin liquidity.

ith Ethereum’s growing dominance, memecoins are getting pushed aside and facing huge selling pressure. Here are 3 Solana memecoins that plummeted more than 12% in 7 days according to Pintu market!

#1. Dogwifhat (WIF) – Down 12.67% in 7 Days

The price chart of dogwifhat (WIF) in a span of 7 days shows a fairly sharp downward trend. The price is currently at $0.8947, down about 12.67% in the past week.

From the candlestick pattern, it can be seen that WIF had a significant rise on August 13-14, reaching the $1.05 area. However, after that the selling pressure grew stronger, triggering a sharp correction to break below $0.90 on August 15-16.

Although there was an attempt at recovery with several green candlesticks signaling buying interest, prices were unable to maintain the upward momentum and corrected again ahead of August 18. This decline occurred even though the daily trading volume actually increased, recorded at $226.51 million up 67.07%, indicating high buying and selling activity.

In terms of market sentiment, the majority of the community still shows optimism with 78% bullish, but the declining price trend reflects short-term uncertainty. This movement marks an important consolidation phase for WIF before the next potential move.

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#2. Pudgy Penguins (PENGU) – Plummeted 20.84% in 7 Days

The Pudgy Penguins (PENGU) price chart in the last 7 days shows a sharp downward trend. Currently, the price of PENGU is at $0.03209, corrected by about 20.84% in a week.

Candlestick movements show that after hovering around $0.040 at the beginning of the period, prices continued to experience selling pressure. The biggest drop occurred on August 12-15, where red candlesticks dominated, signaling a large sell-off from market participants. Although there was a slight recovery in the middle of the period with the appearance of a green candlestick, the price was unable to maintain the upward momentum and weakened again.

Market capitalization also decreased slightly to $2.01 billion (down 2.51%), although daily trading volume actually increased to $252.25 million (up 14.36%). This surge in volume reflects that trading activity was high, but more skewed towards selling pressure.

In terms of sentiment, the community still shows optimism with 74% bullish and 26% bearish. However, the price trend indicates that PENGU is in a significant correction phase and the market is still waiting for a strong signal for a reversal.

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#3. Fartcoin (FARTCOIN) – Crash 14.47% in 7 Days

The price of Fartcoin (FARTCOIN) in the last 7 days has experienced a sharp downward trend. Currently, FARTCOIN is trading at $0.9400, down about 14.47% in a week.

From the candlestick movement, it can be seen that after strengthening to touch the area around $1.15 on August 13-14, the price began to correct sharply. Selling pressure increasingly dominated to make FARTCOIN fall to the range of $0.92-0.94. Although there was resistance with the appearance of several green candlesticks as a sign of buying interest, the recovery was not able to last long so the weakening trend continued.

Market capitalization currently stands at around $940.07 million, relatively stable with a slight increase of 0.49%, while daily trading volume actually increased significantly by 39.6% to $165.96 million. This surge in volume signaled high trading activity, but was dominated by selling rather than accumulation.

Community sentiment still shows optimism with 69% bullish, although 31% bearish signaling market indecision. This chart shows that FARTCOIN is in a correction phase after the previous rally, and the price will rely heavily on the ability to hold at the support level around $0.92 to avoid a deeper drop.

Memecoin Dominance Plummets to 18-Month Low, Why?

According to the latest data from CryptoQuant, memecoin’s dominance in the altcoin market has fallen to 0.039, a figure last seen in February 2024. This shows that memecoin’s market share is eroding, even though its value has increased since the beginning of the year. This decline in dominance is a concern for market participants because it indicates that investors prefer to enter other crypto assets that are considered stronger.

An analyst on platform X cited Ethereum (ETH) as the main factor behind this decline. Ethereum absorbs most of the altcoins’ liquidity, leaving less room for memecoins.

“It’s definitely notecoin season at the moment, although there are some that have gone up, it’s just sporadic,” the analyst said. This condition emphasizes that investors are focusing on crypto assets with stronger fundamentals.

Ethereum Season Moves Memecoin

This phenomenon is in line with the views of market commentators who think it is more appropriate to call this “Ethereum season” rather than “altcoin season.”

Ethereum (ETH) has not only managed to surpass Bitcoin’s (BTC) performance, but also dominate investor attention in the altcoin market. With liquidity flows concentrated into ETH, meme coins’ opportunities to shine are increasingly limited.

The data supports this narrative. Since April, the market capitalization of meme coins has indeed increased by about 79.5%, from Rp646 trillion ($39.93 billion) to more than Rp1,148 trillion ($71 billion).

However, this performance is still far behind Ethereum, which in the same period surged 215.91%, from IDR 2,872 trillion ($177.49 billion) to IDR 9,076 trillion ($560.7 billion).

Conclusion

In conclusion, the downward trend in the prices of three memecoins-dogwifhat (WIF), Pudgy Penguins (PENGU), and Fartcoin (FARTCOIN)-showed a similar pattern, with a short rally at the beginning of the period followed by significant selling pressure that caused the prices to correct quite deeply in the past week.

Although trading volume on all three tended to increase, it was triggered more by selling than accumulation. Community sentiment is still relatively optimistic (dominant bullish above 65%), but the price trend shows an uncertain consolidation phase.

Meanwhile, if you are interested in exploring other memecoins that are currently trending, you can utilize the Token Radar feature available on the Pintu Web3. With this feature, you can also swap tokens practically directly from the token details page, without the need to move to another page.

For those who want to explore other trending tokens, there is a Token Radar feature that presents various important information about each token. Through Token Radar, users can view data such as network, token address, creation date, 24-hour transaction volume (buy vs sell), comparison of circulating supply with max supply, percentage of holders, and links to the token’s official website.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Meme Coin Dominance Falls to 18-Month Low – What’s Behind the Drop?. Accessed August 18, 2025
• Crypto Times. Solana Memecoins WIF, PENGU, FARTCOIN Drop Over 10% in a Week. Accessed on August 18, 2025
• Featured Image: Generated by AI