The cryptocurrency market faced a substantial dip on Monday, Feb. 3, 2025. Bitcoin (BTC) briefly fell below $93,000. The market has since made a slight recovery. BTC has reclaimed the $97,000 price point. Despite the rally, the crypto market continues to stagnate.

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Why Did The Cryptocurrency Market Dip?

Monday’s market correction was likely due to the US imposing heavy tariffs on Canada and Mexico. The tariffs are an attempt to combat trade deficits and illegal border crossings.

The cryptocurrency market recovered a bit on Tuesday after the US paused tariffs for 30 days.

Let’s look at three memecoins that you should watch during the market dip.

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Top 3 Meme Cryptocurrencies To Buy During The Dip

1. Dogecoin (DOGE)

DOGE is the original meme cryptocurrency. The asset could witness a surge this year due to many bullish developments. President Trump has approved the Department Of Government Efficiency (D.O.G.E.) with Elon Musk at its head. Musk is a vocal DOGE supporter. DOGE could witness a surge once the market is back on track. Musk could also include DOGE in his X social media payment feature.

2. Pepe (PEPE)

PEPE is another meme cryptocurrency that could rise this year. The Solana-based memecoin is among the best-performing cryptocurrencies of the last two years. The asset has quickly climbed the charts and could hit a new all-time high when investor sentiment rises.

3. Dogwifhat (WIF)

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WIF is another Solana-based meme cryptocurrency that witnessed incredible growth in 2024. The dog-themed crypto has slipped out of the top 100 projects by market cap after the recent correction. The asset could reclaim its spot among the top 100 projects once the market gains traction.