Cryptocurrency is currently in a bear market, and most coins have fallen sharply from recent highs. Dogecoin (DOGE 2.50%) and Shiba Inu (SHIB 3.00%), arguably the most famous meme coins, have had a particularly rough time. Dogecoin is down by 62% over the last six months, and Shiba Inu is down by 52% (as of March 29).

This may look like a buy-the-dip opportunity on two cryptocurrencies that still have some name value. Unfortunately, that’s about all they have to offer.

Image source: Getty Images.

Dogecoin and Shiba Inu aren’t carbon copies, but their stories over the last five years are similar. Both peaked in 2021 — Dogecoin in May and Shiba Inu in October. They fell off quickly, and each had some success again in 2024 and 2025 as…