According to research by KOL @0xNathanWalk, among the 292 trading pairs at a certain exchange over the past 2 months, 56% of tokens have fallen by more than 50%; only 9 tokens outperformed stablecoins, making holding stablecoins one of the biggest winners; the tokens with the largest declines were those with a strong wealth effect and widespread FOMO at the time, including Memecoins like PNUT which fell by 88.67%, MOODENG which fell by 86.59%, NERIO which fell by 84.99%, and DOGS which fell by 80.09%, among others.