Meme Coins See Significant Losses
Several meme coins have experienced substantial losses in the cryptocurrency market, with Bonk, Pepe, and Brett ranking among the top five worst performers. According to Coingecko data, these meme coins have seen significant declines over the past day.
Bonk: The Biggest Loser
- Solana’s dog coin Bonk (BONK) has taken the biggest hit, plummeting by 12.1% and reaching $0.000023 in value.
- The drop comes following a Bonk DAO vote to burn 100% of the BONK earned by the DAO, with approval expected to pass with a 99.3% vote.
Pepe and Brett: Not Far Behind
- Ethereum’s Pepe (PEPE) has seen a 9.6% decline, while Base chain’s Brett (BRETT) has fallen by 8.1%.
- These losses exceed the broader meme coin market decline of 3% in the past 24 hours.
Other Meme Coin Losers
- Other notable losses include Dogwifhat (WIF) down 5.1%, Mog Coin (MOG) dropping by 12.7%, and Popcat (POPCAT) stumbling 10.6%.
- Even meme coin veteran Dogecoin (DOGE) has seen a 3.1% decrease.
Kendu Inu Shines Amidst the Red
Amidst the overall decline in the meme coin market, Ethereum’s Kendu Inu (KENDU) stands out as one of the top 50 meme coins in the green, with a 13.3% increase after its appearance in a Coinbase video.
Zooming Out: A Look at the Overall Market
Despite the recent losses, the meme coin category has seen an overall gain of 3.1% over the past seven days. Many of today’s losers are still valued higher than they were a week ago, indicating resilience in the market.
Hot Take: Stay Informed, Stay Ahead!
With the volatile nature of the cryptocurrency market, it is essential to stay informed and monitor trends regularly to make informed investment decisions. Keep an eye on emerging meme coins and market movements to stay ahead of the curve!
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