An analysis of memecoin performance since their all-time high (ATH) shows the difference between organic, community-driven tokens and those controlled by corporate interests. Crypto analyst Leonidas recently looked at the top 15 memecoins (excluding AI-driven projects) and found a significant disparity in their value retention.
Tokens like Floki, $BONK and $DOGE saw steeper declines, with Floki falling 44.85% from $0.0003449 to $0.0001902, and $BONK falling 46.35% from $0.00005825 to $0.00003125.
Even DOGE has lost 50.36% from its ATH of $0.7316, now trading at $0.3632. These figures reflect the vulnerability in maintaining market enthusiasm amid bearish trends.
The biggest declines were seen in SHIB, PNUT and NOT. SHIB fell 71.88%, from $0.00008616 to $0.00002423, while PNUT fell 63.47%, from $2.2491 to $0.8216.
$NOT suffered the biggest losses, falling 72.08% from $0.02448 to $0.006834. Often criticized for corporate influence, these tokens demonstrate the risks of pump-and-dump strategies.
DOG leads the way in terms of resilience, falling only 24.84% from its ATH of $0.009999 to $0.007515. This shows the value of a dedicated and organically grown community.
Similarly, PEPE, which fell 30.79% from $0.00002803 to $0.0000194, and SPX, which fell 33.89% from $0.989 to $0.6538, also stand out for their resilient performance. These tokens have one thing in common: support from below, which helped sustain the rally.
Mid-tier stocks like $MOG, $BRETT, and $BABYDOGE saw declines ranging from 34% to 39%. $MOG fell 36.44% from $0.000004007 to $0.000002547, while $BRETT fell 36.64% from $0.2342 to $0.1484.
BABYDOGE fell 39.01%, falling from $0.000000006227 to $0.000000003798. These tokens have shown decent resilience, but their losses highlight the challenges of maintaining value.#2024withBinance
