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Is the meme season coming to an end? After Pepe was listed on Binance, Wojak and Aidoge plummeted by nearly 70%.

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Is the meme season coming to an end? After Pepe was listed on Binance, Wojak and Aidoge plummeted by nearly 70%.

The following is a list of recently popular meme coins, most of which hit all-time highs around May 5th, but have since dropped by over 50%. The recently emerging BRC-20 tokens also seem to be struggling to rise.

Note: Price data is as of 18:00.

Pepe PEPE | Slump after Binance Listing

Binance listed meme coin trading pairs PEPE/TUSD and PEPE/USDT on the Innovation Zone around 2 a.m. on May 6.

As the world's largest exchange, Binance no longer prioritizes the speed of listing, but this seems to have led to "Binance listing" becoming the ultimate achievement for various competitive coins, all of which have experienced a decline after being officially listed.

Since being listed on Binance, PEPE has dropped by about -43%, and has fallen by -57.6% from its all-time high.

PEPE/USDT | 4H

Wojak WOJAK | 70% Drop

WOJAK is a meme known for the expression of depression and loneliness by a bald man.

The price has dropped by 74.2% since May 5.

WOJAK/USDT | 4H

ArbDoge AI AIDOGE | Nearly 70% Decline

AIDOGE, which rose initially through an airdrop on Arbitrum, reached its all-time high earlier than PEPE and WOJAK.

However, it has also dropped by nearly 68.3% since hitting a new historical high on May 1.

AIDOGE/USDT | 4H

Turbo TURBO | 60% Drop

Compared to the above-mentioned coins, as the latest meme coin to emerge, TURBO's all-time high also occurred later on May 7.

About TURBO's Origin: The first meme coin "Turbo" generated by AI! How did it leverage the power of ChatGPT to create a meme coin with a market value exceeding $30 million?

It has also dropped by 64.9% since its peak on May 7.

TURBO/USDT | 1H

BRC-20 Continues to Struggle?

Compared to meme coins on Ethereum, the uptrend cycle for BRC-20 seems to be even shorter.

Some exchanges chose to list the first BRC-20 token, ORDI, but this did not bring about a significant increase in value.

Is Meme Season Over?

Do meme coins, which are far below their all-time highs, no longer have a chance?

In reality, meme coins still face market influence even in outstanding performances, as BTC and ETH both began to decline around May 5, breaking below $29,000 and $1,900, respectively.

On-chain data also shows that after the price collapse, whales are adding more funds to $PEPE.

There are also whales who have earned $14.5 million with $PEPE since May 3, and have invested in the later-launched $TURBO at an average price of $0.0007055.

However, they only spent $977,000 to buy TURBO, which is equivalent to the leftover from their PEPE investment gains.

For retail investors, perhaps investing cautiously is the right path.