Meme Coin Bloodbath Continues As DOGE, SHIB, And PEPE All Plunge
Release: 2024/08/02 18:07 Reading: 469
Meme Coin Market Plunges Over 5%
In a continuation of the recent market downturn, the meme coin sector's market capitalization has plummeted by more than 5% within the past 24 hours. Leading meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have all experienced significant losses.
Top 5 Meme Coins Suffer Heavy Losses
As of 3:50 a.m. EST, DOGE's price has tumbled by over 3%, trading at $0.1162. Shiba Inu (SHIB) has witnessed an identical drop, while PEPE has plummeted by 5%, bringing its weekly loss to 15%.
Dogwifhat (WIF) Leads Weekly Plunge
While PEPE's weekly performance has been dismal, it is surpassed by Dogwifhat (WIF), which has incurred a staggering 27% loss over the same period. WIF's 24-hour loss of over 6% is also the most severe among the top 5 meme coins.
Other Top Meme Coins Decline
Nine out of the top 10 largest meme coins have fallen prey to the ongoing selloff. Mog Coin (MOG) has dropped by 16% in the last 24 hours, while Book of Meme (BOME) and Brett (BRETT) have plummeted by 9% and 5%, respectively. FLOKI and Bonk (BONK) have also seen investor sell-offs.
POPCAT Defies Downward Trend
Amidst the bloodbath, POPCAT (POPCAT) has emerged as an anomaly, posting a remarkable 6% gain, defying the overall downward trend in the meme coin market.
Meme Coin Presales Offer Refuge
As meme coins continue to decline, investors are exploring presale tokens, which provide shelter from market volatility and the potential for significant returns before their official listing.
Pepe Unchained (PEPU) and WienerAI (WAI) are examples of meme coin ICOs that have continued to attract funding despite the market downturn. PEPU has raised over $6.8 million, while WAI has surpassed $9 million, offering investors a chance to purchase before its listing on August 5th.
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