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The market capitalization of the meme coin sector has plunged more than 4% in the last 24 hours, with leaders Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all posting losses due to the flash cryptocurrency collapse.
DOGE, the largest meme coin, is down 2% at $0.1414 as of 2:40 a.m. EST, putting its weekly performance down more than 10%.
Top 5 Biggest Meme Coins (Source: CoinMarketCap)
PEPE, WIF, FLOKI and SHIB fail to overcome bearish attack
The rest of the top five meme coin All suffered losses in 24 hours. FLOKI was the biggest decliner, down more than 7%. Their dog-themed counterparts failed to buck the trend, with SHIB and WIF falling 3% and 4% respectively.
SHIB, PEPE, WIF, and FLOKI also saw their weekly performance deepen into the red as the meme coin market prolonged. negative trend. WIF suffered the most losses over the past seven days after its price fell more than 18% during this period.
Some small Meme coins bucked the trend.
Several small meme coins are bucking the downward trend. byte(byte) was the best performer, with an increase of over 70% according to CoinGecko. Jesus Coin (JESUS) and Hoppy (HOPPY) also showed gains, each rising 8%.
Smaller tokens that outperform the meme coin leader may represent traders and investors seeking shelter from the bearish storm in cryptocurrencies that are not actively traded and subject to major market movements.
Newly launched pre-sales that are not yet listed on exchanges and are not subject to subsequent market volatility can also attract investors.
#playdoji Another Big W was bagged today, raising $3.5 million. #Ticketing! 🚀🎃
ICYMI: We went. #multichain! 🌐🎉#Staking Now streaming live from both places. #BNB and #ETH CHAINS OFFERING MORE $PLAY 💰
Rewards vary by chain 🌟
Buy now! 👇 https://t.co/JT0VEofqf2#memecoin #P2E #Cryptocurrency pic.twitter.com/XghA0jlfbU
— PlayDoge (@PlayDogeGame) June 10, 2024
Among the current analyst favorites is PlayDoge (play), a Play-to-Earn Dogecoin derivative that raised $3.7 million in less than two weeks.
Winner AI(water) is another hot pre-sale with nearly $5.4 million in funds raised. New Zealand(seal) Solana is giving investors one last chance to buy after surpassing $4 million.
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