Meme Coins on a Decline, Nearly Mirror European Markets

TheNewsCryptoPublished on 2026-03-03Last updated on 2026-03-03

Abstract

Meme coins are experiencing a significant decline, nearly mirroring losses in European markets. This downturn is largely driven by the ongoing Middle East conflict involving the US, Israel, and Iran. Major meme coins like DOGE, SHIB, and PEPE have all fallen over 2.5% in 24 hours, with weekly losses for some, such as PIPPIN, exceeding 30%. The collective meme coin market cap dropped nearly 2%. European markets also extended their losses due to a sell-off linked to the geopolitical tensions, with the STOXX 600 index falling 1.3%. The European Central Bank's chief economist warned the conflict could increase inflation pressure and impact economic growth. Meanwhile, broader cryptocurrencies are attempting a recovery but have retraced from recent highs, with Bitcoin falling back to around $67k and Ethereum to $1,900. Notably, the AI crypto segment defied the trend, with tokens like NEAR posting gains over 12%.

Meme coins are on a free fall to almost mirror the condition of the European markets. The decline stems from the Middle East conflict, wherein the US and Israel have locked horns with Iran. Meanwhile, cryptocurrencies are attempting a recovery from recent losses.

Meme Coins Right Now

All top meme coins are down by over 2.5% at the time of writing this article. For instance, DOGE has shed 2.75% of its value while SHIB and M are down by 3.63% and 5.40%, respectively. In fact, the collective market cap is down by 1.96% with an uptick of 20.64% in trading volume.

As for the individual performance, the frog-themed meme coin, PEPE, has declined by 2.33%, and so has the TRUMP token, with slight resistance, given that it is only down by 1.04%. All percentage changes have happened over the last 24 hours.

Notably, the highest weekly loss is for PIPPIN from the list of top 7 meme tokens. PIPPIN is down by 32.12%, followed by PEPE (-12.89%) and SHIB (-10.54%).

European Markets

European markets reportedly extended their losses to the last session. The scenario has been attributed to a deep sell-off amid the rising Middle East conflict. The pan-European STOXX has plunged by 1.3% to 615.72 points. The energy sector did climb marginally, but was balanced by a 2.6% fall each by sectors led by banks and the utilities index.

European Central Bank Chief Economist Philip ​Lane, in an interaction with the Financial Times, emphasized that the war could put pressure in inflation. The aspect is seemingly coming closer, given that the State of Hormuz could turn off at any point. Lane has also underlined that the growth of the euro zone could be impacted.

Cryptocurrencies Retracing Lower

While there are notable gains, top cryptocurrencies have considerably retraced their steps on the price charts to lower values. For instance, BTC is again hovering around $67k, down from $68k+. And, ETH’s momentum is back to $1,900 after briefly booking values over the $2k margin.

That’s not where cryptocurrencies stop, though. The AI crypto segment has been able to defy the ongoing trend. TAO has gained 0.88% in a single day. NEAR has added over 12% to its trading value while VIRTUAL is aiming to surpass the 6% target.

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Related Questions

QWhat is the main reason for the decline in meme coins and European markets mentioned in the article?

AThe decline stems from the Middle East conflict, particularly the tensions between the US, Israel, and Iran.

QWhich meme coin experienced the highest weekly loss among the top 7 tokens?

APIPPIN experienced the highest weekly loss, down by 32.12%.

QHow much did the pan-European STOXX index decline by according to the article?

AThe pan-European STOXX index plunged by 1.3% to 615.72 points.

QWhat did European Central Bank Chief Economist Philip Lane emphasize about the war's impact?

APhilip Lane emphasized that the war could put pressure on inflation and impact the growth of the euro zone.

QWhich cryptocurrency segment was able to defy the ongoing declining trend?

AThe AI crypto segment was able to defy the ongoing trend, with tokens like NEAR and VIRTUAL posting gains.

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