Representation of cryptocurrency Dogecoin is seen in this illustration taken on Nov. 29, 2021. Dado Ruvic/Illustration/Reuters
Meme coins may have appeared to be heading to the moon a couple of years ago, but they ran out of fuel and crashed back down to Earth.
The combined value of cryptocurrencies centered around a cultural meme or internet jokes—Dogecoin, Shiba Inu, Fartcoin, and Pepe, for example—has cratered almost 82 percent since reaching record highs in November 2024.
