$SHIB $PEPE $DOGE $FLOKI What Happened Next?
Meme Coins Face Market Turbulence
š“ Meme Coin Market Performance
The meme coin market saw massive success in early 2024. However, meme coin prices dipped following bearish Bitcoin trends. Many meme coins, such as Pepe Coin (PEPE), Shiba Inu (SHIB), Dogecoin (DOGE), and FLOKI, have since crashed, losing over 20% of their value.
š“ Pepe Coin (PEPE) Shows Potential
Pepeās (PEPE) price chart has shifted between up and downtrends over the last day as the price dropped by 11%. This comes after Wintermute, a known market maker, dumped over 703 billion PEPE and another whale took out 9 trillion Pepe valued at approximately $82 million.Pepeās price has grown by 0.58% in the last 7 days and Pepe is trading above the 200-day simple moving average (SMA).
š“ Shiba Inu (SHIB) Maintains Stability
Shiba Inuās burn rate has increased by over 350% daily in the last week. As a result, almost 28 million Shiba Inu tokens have been destroyed. . It could also be why Shiba Inu (SHIB) has maintained a constant price level in the last 7 days even as other cryptocurrencies struggle. Now trading at $0.00001588, Shiba Inuās price spiked by 16.9% this week, a sign that Shiba Inu could be on track for a bullish performance in Q3.
š“ Dogecoinās (DOGE) Price Increase
DOGE price fluctuates based on social trends and engagement. However, the Dogecoin team is working to increase Dogecoinās utility. The project recently announced that families in Venezuela now use Dogecoin as a means of exchange to replace fiat. Since this announcement, Dogecoin has grown by 1.52%, with Dogecoin now trading at $0.1056.
š“ Floki (FLOKI) Gains Market Cap
Floki has struggled to climb back to its $0.00034 all-time high in Q2. However, although Floki dropped by 7% in the last 24 hours, Flokiās price has increased by nearly 4.6% in the past 24 hours alone. Analysts predict that if Floki breaks out from its current descending pattern, the coin will jump by over 60% in the coming weeks.
