Dogecoin remains mostly unchanged as new meme coins gain traction following their introduction on Robinhood. Over the past 24 hours, Dogecoin (DOGE) has seen a minimal decline of 0.4%, settling at $0.165. Meanwhile, Solana-based tokens Popcat (POPCAT), Peanut the Squirrel (PNUT), and PENGU have jumped significantly, with Popcat rising over 20% to around $0.186. Despite this positive momentum for some tokens, the overall meme coin market is experiencing a downturn, with its market cap dipping below $50 billion. Notably, the existing meme coin leaders, including Dogecoin, have suffered significant losses recently, with DOGE down 60% from its peak in 2024. Traders are sensing a possible shift as they note a decline in activity and innovation within the meme coin sector, as highlighted by the substantial decrease in token launches on the popular platform Pump.fun. Overall, although there are pockets of growth, the meme coin market is navigating challenging waters at this time.

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