SHIB and WIF Among Worst-Performing Meme Coins
Release: 2024/09/02 14:30 Reading: 273
Dogwifhat and Shiba Inu: Poor Performers in the Meme Coin Space
According to data from crypto analytics platform Lookonchain, Dogwifhat (WIF) and Shiba Inu (SHIB) rank among the worst-performing meme coins. Both cryptocurrencies have witnessed significant declines from their 52-week highs, with WIF dropping 70.93% and SHIB falling 70.86%.
Earlier this year, WIF gained prominence with a surge that pushed its price to a peak of $4.83 on March 31. However, it has since lost over 70%. Despite this correction, some experts remain optimistic about WIF's long-term prospects. Murad Mahmudov, a former Goldman Sachs analyst, predicts that WIF could emerge as a major Solana (SOL) winner in 2025.
Meanwhile, SHIB reached its peak at $0.0000456 on March 5, but subsequently lost its gains. The "Dogecoin killer" has now fallen by 84.6% from its record high set three years ago.
The poor performance of WIF and SHIB is not an isolated case. Dogecoin (DOGE), the largest meme coin by market cap, has declined by 57.93% from its 52-week high. Pepe (PEPE) has also plunged by over 58%. For comparison, Bitcoin (BTC) has only dropped by 21.7% from its all-time high set in March.
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