Meme Coins Losing Value: BONK, WIF, DOGE Under Pressure
Release: 2024/05/11 23:49 Reading: 706
Cover image via U.Today
With seven-digit-long liquidations, meme cryptocurrencies are once again among the worst sufferers of the cryptocurrency market drop. The segment's net valuation might dip below $50 billion while all majors are underperforming the market benchmark.
All Major Meme Coins in Red: BONK, WIF, FLOKI Underperforming
Today, May 11, 2024, a majority of meme cryptocurrencies are in the red zone. While the net cryptocurrency market capitalization lost 3.6%, all major dog coins are performing worse. Some cryptos with nine-digit caps even demonstrate double-digit losses. src="/uploads/20240512/1715449349663fae05db604.png">Image by CoinGecko
Overall, the sphere of meme coins saw 4.6% of its net valuation erased. In the top 10 meme coins by market cap, Popcat (POPCAT) suffered the worst, with 17.3% lost overnight. Its capitalization plunged from $513 million to $425 million.
Among the largest meme coins, Floki (FLOKI), Bonk (BONK), and Dogwifhat (WIF) witnessed the largest losses with 5%, 6.2%, and 4.7% price reductions, respectively.
Such a dropdown is accompanied by significant long positions liquidated. As per CoinGlass data, traders of Dogecoin (DOGE), Bonk (BONK), Pepe (PEPE), and Dogwifhat (WIF) lost $4.5 million worth of long positions in 24 hours.
Amid plummeting Bitcoin (BTC) prices, the net volume of long liquidations exceeded $131 million in equivalent, with $3.56 million lost in the largest single liquidation.
Dogwifhat (WIF) Cat-Themed Spin-Off Stands Alone: CWIF Spikes by 30%
When it comes to the segment's performance, cat-themed meme coins are the weakest amid all digital assets. In total, they lost 11.9% in the last 24 hours.
At the same time, a single asset demonstrates the opposite performance. Catwifhat (CWIF), a Solana WIF copycat, added over 30% in the last day and exploded into the top 1,000 cryptos by market cap.
With 6.9% lost, Solana meme coins remain the seventh weakest category in crypto in terms of 24-hour performance. The segment's capitalization eyes $7 billion at shrinking trading volume.
Recent news
More>- 60.9 Billion Dogecoin (DOGE) in 24 Hours, What's Happening? 11-27
- Historic Milestones: Bitcoin approaching $100,000 and Pepe Unchained secures over $52 million in presale 11-27
- UK’s financial regulator to implement final crypto rules by 2026 11-27
- Dogecoin’s Dogebox Will Revolutionize Everyday Transactions in 2025 11-27
- From Dogecoin to Dogen: The 10,000% Rally Everyone Is Talking About! 11-27
- Bets.io – one of the most wonderful and safe online crypto-casinos 11-27
- This week’s crypto opportunities: Buy signals for XRP, LINK, and XYZ 11-26
- Trump’s Pet Pepe (TRUMPEPE) Solana Memecoin Will Rally 18,000% Before Exchange Listings, As Shiba Inu and DOGE Lag 11-26
- Analyst Predicts This Layer-2 Meme Coin Could Surge 150X at Launch 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com