Are Meme Coins in the Hardest Downfall?
Release: 2024/07/13 00:29 Reading: 545
Meme Coins Experience Significant Decline in Past 24 Hours
In the last 24 hours, meme coins have witnessed a considerable decline, reaching their lowest point in recent times. The meme coin market capitalization has dropped to $43 billion, marking a notable 3.8% decrease.
The crypto market has been persistently challenged by bearish sentiment in the past few weeks. Major assets have failed to recover, leaving the industry in a state of uncertainty. Amidst the altcoin sector, meme coins have faced the most severe price declines in the past 24 hours.
Top Losing Meme Tokens
According to data from CoinMarketCap, the worst-performing meme tokens include:
- BONK
- BRETT
- PEPE
- FLOKI
BONK
Despite a 13.8% increase over the past week, the dog-themed meme coin BONK has plummeted over 13% in the past 24 hours. At the time of writing, BONK trades at $0.00002259. This decline has led to a 62.86% surge in daily trading volume. The highest price recorded during this period was $0.00002763.
The daily RSI stands at 46.81, approaching the neutral zone. The immediate resistance and support are $0.00002300 and $0.00002195, respectively.
BRETT
Brett, a comic-inspired coin, has declined by 9.76%. It currently trades at $0.1084. Daily trading volume has increased by 29.48% in the past 24 hours. Over the past month and week, Brett has lost 36% and 2.49%, respectively.
The initial resistance is at $0.1125, while the key support lies around $0.1013. The daily RSI is at 40.82, nearing the oversold zone.
PEPE
PEPE, a frog-themed meme coin, has dropped by 10.35% to $0.000008373 in the past 24 hours. The highest price recorded was $0.000009736, and daily trading volume is up by 45.14%. The token has gained 0.47% over the past week.
The relative strength index is at 36.11, indicating selling sentiment. Pepe's resistance and support are marked at $0.000008974 and $0.000007879, respectively.
FLOKI
Floki, the pet dog-themed token, has decreased by 7.47% in the past 24 hours. At the time of writing, it trades at $0.0001381. The highest price recorded was $0.0001554, and daily trading volume has increased by 0.87%. Floki has gained 3.61% over the past week.
The key resistance is at $0.0001615, while the significant support is at $0.0001487. The daily RSI is at 37.75, nearing the oversold territory.
In addition to these tokens, several other meme coins, such as MOG, WIF, RNDR, AR, and INJ, have also witnessed declines. Meanwhile, Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization, have fallen by 2.70% and 2.63%, respectively.
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