DOGE, PEPE and WIF Stunned by This Meme Coin Liquidation

Cover image via U.Today

The meme coin ecosystem is witnessing a significant shift, with newcomers like NEIRO challenging veteran players such as Dogecoin (DOGE) and Shiba Inu (SHIB). Recent liquidation data provides insights into investor sentiment, indicating a potential major upheaval.

Current Meme Coin Liquidation Outlook

CoinGlass data reveals a moderate combined market liquidation of $180.25 million, involving 59,547 traders.

Beyond Bitcoin (BTC) and Ethereum (ETH), NEIRO stands out with a liquidation of $8.71 million, eclipsing Dogecoin's $3.07 million.

NEIRO's liquidation also exceeds those of Dogwifhat (WIF) and PEPE, signaling an intense sell-off. This surge follows NEIRO's recent all-time high (ATH) of $0.001524, fueled by a 51% increase in the past 24 hours.

The surge in NEIRO's liquidation highlights the overexposure of traders and could trigger further liquidations.

Can Established Meme Coins Compete with Newcomers?

The liquidation heatmap on CoinGlass notably excludes Shiba Inu, suggesting a shift in investor attention towards more volatile and potentially more lucrative alternatives.

This trend raises questions about the sustainability of older meme coins like DOGE, SHIB, Floki, PEPE, BONK, and WIF.

While initial hype alone cannot guarantee long-term success, utility is emerging as a defining factor for meme coin value. Notably, Shiba Inu is pioneering with the launch of Shibarium, while BONK and WIF have integrated into the Solana ecosystem.

The survival and potential dominance of new meme tokens depend on their ability to deliver tangible value to their respective communities.