As Bitcoin's (CRYPTO:BTC) recent decline to below $64,000 impacts the crypto market, meme coins like Dogecoin (CRYPTO:DOGE) and Shiba Inu (CRYPTO:SHIB) have suffered even steeper losses, signaling a challenging period for investors.
Despite significant drops, such as Dogecoin plummeting 11.6% and Shiba Inu 15.6% over the past week, analysts foresee a potential rebound akin to previous volatile swings.
Historically, meme coins have shown extreme volatility, capable of substantial rallies following market downturns, as seen with BONK (CRYPTO:BONK) and PEPE (CRYPTO:PEPE) recording triple-digit percentage gains after Bitcoin's May surge.
With expectations of Bitcoin potentially reaching $100,000, investors eye meme coins for high-risk, high-reward opportunities amid ongoing market turbulence.