The past year has been bearish for memecoins.
Top 10 memecoins have lost an average of 63.73% in the past year.
BONK recovered from a 96.63% pullback to a current 64.63% drawdown.
The past year has been especially rough for memecoins, with the top 10 tokens in the category down by an average of 63.73% from their peak. Leading cryptoanalysis platform, Lookonchain, broke down how the top memecoins have performed in the past 52 weeks, revealing their highest drawdowns and the extent of their recoveries.
Over the past year, the top 10 #MEMEcoins have dropped an average of 63.73% from their peak.$DOGE: -57.93%$SHIB: -70.86%$PEPE: -58.16%$WIF: -70.93%$BONK: -64.63%$FLOKI: -65.97%$BRETT: -62.59%$POPCAT: -43.77%$BOME: -79.48%$MEW: -62.99% pic.twitter.com/GzRNI4dYaB
— Lookonchain (@lookonchain) September 2, 2024
Lookonchain’s analysis covered crypto assets like DOGE, SHIB, PEPE, WIF, and BONK, as well as FLOKI, BRETT, POPCAT, BOME, and MEW. The platform highlighted the 52-week high and low of each memecoin, showing how much each token fell during the period.
Read also: Turn $50 Into $5000 With These 5 Undervalued Memecoins
BONK led the pack with the highes…
The post From Peak to Pit: 52-Week Memecoin Drawdowns Analyzed appeared first on Coin Edition.
