Meme Coins Flash Crash As Pepe, Dogwifhat, And Shiba Inu Plunge Amid 8% Sector Selloff
Release: 2024/05/30 16:49 Reading: 476
Meme Coins Witness Sharp Decline
Meme coins experienced a significant downturn over the past 24 hours, with Pepe (PEPE), Dogwifhat (WIF), and Shiba Inu (SHIB) suffering substantial losses.
The overall market capitalization for meme coins plummeted to $62.65 billion, marking an over 8% decrease. Dogecoin (DOGE), the largest meme coin by market cap, contributed to the decline with a loss of more than 4%.
Notable Losses Among Top Meme Coins
Cat in a Dogs world (MEW) topped the list of losers, shedding over 21% of its value. Solana-based meme coin Bonk (BONK) followed with a 20% plunge.
PEPE, WIF, FLOKI, Book of Meme (BOME), and Memecoin (MEME) also experienced double-digit losses. Only DOG•GO•TO•THE•MOON (DOG) managed to resist the downward trend, posting a gain of over 18%.
Smaller-Cap Meme Coins Offer Refuge
Amidst the sell-off, some smaller-cap meme coins recorded gains. Optimus AI (OPTI), The First Youtube Cat (PAJAMAS), and Super Trump (STRUMP) saw price increases of 15%, 6%, and 46%, respectively.
Presales Offer Potential Shelter
Presales also present opportunities for shelter from the bearish market. PlayDoge (PLAY), a newly launched dog-themed meme coin, raised $200k within minutes of its ICO.
Sealana (SEAL) and WienerAI (WAI) are also gaining attention from analysts as promising presale options. Sealana has raised over $3 million, while WienerAI is approaching $3.5 million in funding.
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