January was a wild month for the crypto market. On one hand, Donald Trump’s inauguration and hints at pro-crypto policies fueled optimism. Bitcoin climbed 12%, XRP surged 45%, and Solana added another 25%. But it wasn’t all green candles – macroeconomic troubles, the Deepseek stock crash, and the messy story of the TRUMP and MELANIA tokens created turbulence.
While most cryptocurrencies managed to close the month on a positive note, a few projects were hit hard. Here are three of the worst performers of January 2025.
#3 PEPE (-35%)
Memecoins have had a rough time, and PEPE is a prime example. Just two months ago, it reached an all-time high, but now it’s down more than 50% from that peak. The main reason is likely the rise of the TRUMP token.
With TRUMP still having over $5 billion market cap, PEPE and other established memecoins like WIF and FLOKI lost investor interest. PEPE saw a 35% drop in January, making it one of the biggest losers among major cryptocurrencies. Moreover, a new popular memecoin, SPX6900, has been gaining traction, further dividing memecoin liquidity.
Can PEPE recover? It wouldn’t be the first time a memecoin staged a comeback, but right now, the hype is elsewhere. If TRUMP’s momentum fades more, there could be room for PEPE to breathe again.
#2 VIRTUAL (-50%)
Virtuals Protocol (VIRTUAL) had a dream run in 2024, skyrocketing over 23,000% from to an all-time high of $5.07 in early January. But after such an extreme rally, a correction was inevitable.
Profit-taking, combined with cooling hype, sent VIRTUAL tumbling 50% this month. Investors who jumped in at the peak are now deep in the red, as the coin struggles to hold the $2.00 level.
That said, the project isn’t done yet. Developers are actively working on expanding to Solana, which could help rebuild confidence. But for now, the coin is in a tough spot.
#1 PENGU (-59%)
Pudgy Penguins (PENGU) has been one of the biggest casualties of the January memecoin shakeup. At the start of the month, it was pushing into the top 50 cryptocurrencies. Now, it’s barely clinging to a spot in the top 100.
The same forces that hurt PEPE took an even bigger toll on PENGU. Investors chasing quick profits moved into TRUMP and SPX6900, leaving PENGU in freefall. Memecoins live and die by hype, and for now, PENGU’s moment seems to be over.
There are some upcoming token burns and collaborations that might spark a rebound, but unless the market sentiment shifts, it will be a tough climb back.
Bonus: MELANIA Token (-70%)
MELANIA was supposed to be a political memecoin rally, but instead, it turned into a disaster. Launched less than two weeks ago, the token initially surged – only to crash almost immediately.
The biggest issue? Confusion and mismanagement. Its launch disrupted the climbing TRUMP token, causing both to decline. As of now, MELANIA has fallen over 70% from its peak, with no signs of recovery. The latest all-time low was set just a few hours ago, and if things don’t turn around soon, it may slip below $2.00.
Final Thoughts
Memecoins took the hardest hits in January. While most of the crypto market ended the month in the green, PEPE, PENGU, WIF and FLOKI and others struggled under shifting investor sentiment. In fact, outside of SPX6900, only Dogecoin and Fartcoin managed small gains, while most other major memecoins saw double-digit losses.
The TRUMP token has been a game-changer – driving some coins up and leaving others behind. But with its own price now slipping, investors are not happy. The question is: will other memecoins manage to regain their position?
