Weekly Meme Coin Data Report — 10.5–10.11, 2026

The reversal week, measured properly: $23.66B → $21.54B (-9.0%) on Sunday closes, zero green members, equal-weighted -9.9%, dispersion 12.2 points — its worst week since the September 7–13 washout, driven by a crypto-wide ETF outflow rather than anything meme-specific.

1. The eight closes

Basis notes, stated plainly as always: closes are UTC daily closes — DOGE from CoinOtag's daily table, PEPE from TokenPost's October 11 settle print ($0.000004220), SHIB from CoinOtag's daily chart and Kraken's October 11 snapshot (tracker band $0.00000538–$0.00000550), SPX from CoinOtag and CoinsKid, BONK from Investing.com's BONK/USD table, FLOKI from DexBrief's October 11 snapshot, WIF from TheWeal's October 11 snapshot, PENGU from CoinLore's Binance print ($0.00810). BONK's cap is computed at close × ~88.8T circulating, FLOKI's at close × 9.66T and DOGE's at close × ~171.9B, our standing convention where trackers disagree on supply.

2. Where the $2.12 billion went

The arithmetic of the week is dominated by size. DOGE alone accounts for 73.8% of the loss, shedding roughly $1.56 billion against a combined decline of about $2.12 billion, so the board's -9.0% is to a first approximation DOGE's -9.5% with a small-cap tail attached; SHIB's -$261M is the only other triple-digit contribution. The rows where percentage and dollar damage disagree are the instructive ones: SPX and PENGU each fell 12-16%, yet each moved the index by barely 3%, because together they are under 4% of its weight. A 16% weekly loss in a $412 million coin is a brutal week for that coin and a rounding error for the index.

Cap deltas also make the week's cause visible in a way percentages hide. Eight of eight names shrank together, with no offsetting green, and the shrinkage is concentrated where the money is: the three largest members (DOGE, SHIB, PEPE) account for 89.5% of the dollar decline even though they are only three of eight lines. That is a flow event expressed through a cap-weighted instrument, not a set of independent token failures.

3. What an all-red week with narrow dispersion means

Dispersion usually earns its keep at the quarter's turning points: the extremes printed 32.6 points in the August 24–30 washout and 30.4 in the September 21–27 melt-up, as single names broke away from the pack. This week the whole board fell together — the spread between its best member (PEPE, -4.0%) and its worst (SPX, -16.2%) was only 12.2 points, and six of the eight landed between -5.6% and -13.5%. That is not a meme-sector repricing, it is one beta applied uniformly: when the same macro bid lifts every member, the same bid's withdrawal lowers every member, and only the highest-beta small caps (SPX, WIF) fall materially harder than the base.

The breadth confirms it — 0 up / 8 down is the first such print of the quarter and the mirror of the September 21–27 week's 8 up / 0 down. Between those two extremes sits every other week in the record. The single most useful reading of this week is therefore subtraction: strip out the market and nothing happened to meme coins in particular; the category simply carries the most torque.

4. Cap-weighted vs equal-weighted: the 0.9-point gap

Three averages of the same eight closes tell subtly different stories, and the gaps are the signal. Cap-weighted, the board fell 9.0%. Equal-weighted, it fell 9.9%. The median member fell 10.3%. That ordering — median worst, equal-weight in the middle, cap-weight mildest — is exactly what a DOGE-dominated index should print: the 69.3%-weighted giant fell 9.5% and anchors the cap-weighted figure, while four members fell more than 10% (BONK, WIF, PENGU and SPX) and pull the median below both averages. The four that held above the median line are PEPE (-4.0%), FLOKI (-5.6%), SHIB (-7.5%) and DOGE (-9.5%).

Read beside the narrow 12.2-point dispersion, the three averages say one thing from three angles: this was a high-correlation week in which nearly every member moved the same way by a similar amount. The cap-weighted print looks milder than the median only because the index's largest member happened to fall a little less than the typical coin. There was no dispersion-driven blow-up and no dispersion-driven shelter — one factor, applied uniformly across the board.

5. The six-week arc

Read the arc as a give-back, not a break: $21.54B is still 7.1% above the August 30 monthly close of $20.11B and 28.2% above the $16.8B mid-August base of our close series — but it is 9.0% below last week's pause and 9.5% below the September 30 month-end close of $23.80B. The melt-up's whole structure is intact on the base frame and half-forfeited on the weekly frame; both are true, and the next week decides which frame keeps the story.

6. Where the volume went

It went out. Bitcoin's session volume ran heavy into the drawdown — the October 7 session alone saw a $484.9M spot Bitcoin ETF net outflow and hundreds of millions in leveraged positions liquidated (Farside/SoSoValue, via crypto.news and BTCtiming) — while DOGE printed its heaviest daily volume of the week on the October 8 flush before fading (CoinOtag daily table). Unlike last week's halved-volume pause, this week's falling price came with rising volume and rising outflows: that is the distribution signature the pause week lacked, and it is why this week falls in the 'reversal' column until the flow tape says otherwise.

7. The week's damage, ranked

Ranked by weekly change, the board's damage ran from the smallest names to the most levered. SPX was the board's worst week at -16.2%, giving back the entire Moonshot-headline bounce and then some; WIF was next at -13.5%, unable to hold the $0.2322 inverted-head-and-shoulders neckline it had defended since late September. PENGU (-12.0%) carried the Abstract-shutdown headline on top of beta, and BONK (-11.1%) fell despite having been the quarter's steadiest gainer. DOGE (-9.5%) lost more than any of the three majors' proxy would imply, SHIB (-7.5%) did what SHIB does in a drawdown, and the two most defensive names — FLOKI (-5.6%) and PEPE (-4.0%) — lost the least. The ordering is a clean beta scorecard with one idiosyncratic overlay (PENGU's chain news).

8. Level watch

9. What would change our read

• A second negative ETF week. One outflow week is a reversal; two is a trend. If the week to October 16 prints negative with the board below $21.54B, the base frame gives way and $20.11B (the August 30 monthly close) becomes the level that matters.
• Bitcoin failing to reclaim $85,000. The board's beta needs a Bitcoin base; a BTC grind back above $85K–$86K is the fastest route to a board bounce, while a break under $80K reopens the October 8 low near $80,400.
• Dispersion widening above 20 points on the downside. This week's narrow 12.2-point spread says synchronized beta; a widening spread with the majors flat would mean single names are being repriced again — SPX and PENGU are the ones to watch first.
• SPX losing $0.3603. The quarter's biggest loser by both frame and 30 days; holding its first support is the difference between a correction and a broken chart.

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Related reading

• Meme Coin Weekly News Review — 10.5–10.11, 2026
• Meme Coin Market Intelligence — 10.5–10.11, 2026
• Meme Coin Monthly Report — September 2026
• Pengu's Abstract Exit: A Meme Brand Closes Its Chain