The meme coin market has experienced a significant downturn, losing $29.54 billion in value over the past 55 days. Major tokens such as Dogecoin (DOGE), SHIB, and PEPE have seen substantial declines, contributing to a 14.1% drop in the sector's value in the last 24 hours alone. This sharp decrease resulted in over $8.57 billion in market value disappearing in a single day. Among the hardest hit were tokens like SPX, BELIEVE, and AIC, which suffered weekly losses of 41.9%, 76%, and 57% respectively. Despite the overall market downturn, a few tokens, including PIPPEN, ZEREBRO, and MINIDOGE, managed to buck the trend, posting gains of over 24%.