Meme coins, such as Dogecoin, have sparked a cultural shift within the crypto sphere. However, Shiba Inu encounters obstacles, notably regarding its enigmatic creator. Market trends reveal notable price fluctuations across prominent meme coins.
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When we explore the history of cryptocurrencies, it’s clear that one category stands out with a unique purpose. Meme coins, led by Dogecoin (DOGE), introduced a playful culture to the crypto and wider world. Since DOGE’s rise, other meme coins have joined the market too. So, what’s going on with the top meme coins in the market?
Shiba Inu Concerns
Shiba Inu (SHIB), often seen as Dogecoin’s main competitor, is currently facing difficulties. Investor worries persist regarding the project’s secretive creator, Shytoshi Kusama. Despite its popularity, SHIB ranks 11th in market size among cryptocurrencies.
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Recently, a prominent supporter of Shiba Inu claimed to possess confidential information about the project’s future. However, due to concerns for the project’s well-being, this information was not disclosed.
Amidst these concerns, attention shifted to SHIB’s price, which mirrored the broader market’s downturn. SHIB experienced nearly a 5% decline, bringing its price down to $0.00002301.
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Furthermore, SHIB’s market volume decreased to $13.5 billion, while its 24-hour trading volume plummeted to $416 million, representing a significant 29% drop.
PEPE Meme Coin Performance
PEPE, the leading frog-themed meme coin and a close follower of DOGE and SHIB, appears to be weathering the storm better than its counterparts despite today’s drop. While it has experienced a decline from its all-time high (ATH), PEPE is currently 25% below this peak level.
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PEPE found support from buyers at $0.000007975 following an approximately 8% drop in the last 24 hours. Despite this, its market volume has dipped below $3.5 billion, and its trading volume has decreased to $700 million after a substantial 27% drop.
FLOKI’s Performance in the Meme Coin Market
FLOKI, a standout cryptocurrency from the previous bull run, was among the meme coins that experienced a decline today. Its price has dropped by 5.88% in the last 24 hours to $0.00001074, indicating that it is currently 50% below its all-time high (ATH).
FLOKI’s market volume currently stands at $1.65 billion. However, its trading volume has decreased by over 40% to just $128 million. This decline in trading volume reflects a notable loss of investor interest in FLOKI at present.
BONK’s Performance in 2023
BONK, hailed as the undisputed star of 2023, faced a significant price drop last March. However, it managed to maintain stability with a slight rise of just over 2% in the last month.
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In the past seven days, BONK recorded a positive rate of 5%, indicating some positive momentum. However, over the last 24 hours, it experienced a nearly 6% drop, bringing its price down to $0.00002391.
Following this recent drop, BONK’s market volume decreased to $1.5 billion. Similarly, like FLOKI, its trading volume also saw a significant 40% decline, reaching $193 million.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
