The general downward trend in the cryptocurrency market continues. The price of Bitcoin fell below $61,000 today, following the decline that started on Monday. This situation also negatively affected meme coins. Meme coins are considered the riskiest among risky assets because they have high volatility. What are the developments in the market?

Dogecoin, the leading meme coin of the crypto world, exhibits a stronger performance compared to its competitors despite its decline. DOGE, supported by Elon Musk, is affected by the fluctuations in Bitcoin and worries its investors. At the time of writing, DOGE has lost 3.34% in value in the last 24 hours, falling to $0.1092. Moreover, the decrease rate in the last 7 days was 18.36%. DOGE's market volume decreased to 15.8 billion dollars and transaction volume decreased to 760 million dollars.

After Dogecoin, Shiba Inu (SHIB), the second largest meme coin of the market, experienced a deeper decline. SHIB lost 6.04% in value in the last 24 hours, falling to 0.00001418 dollars. SHIB, which rose to $0.42 in March, worries investors as it moves away from these levels. SHIB's biggest goal is to reach the $0.01 level, but burns are not at the desired level and more than 50% of the total supply is still in circulation.

PEPE and WIF, the third and fourth largest meme coins of the market, were also affected by the decline. PEPE, which attracted attention in June, experienced a decrease of 10.97% and fell to the level of 0.000008783 dollars. WIF, the largest meme coin on the Solana network, lost 11.86% in value, falling to $1.62. There are comments in the market that WIF may drop to the level of 1 dollar.

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