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The meme coin sector’s market cap fell more than 4% in the past 24 hours as leaders Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all posted losses during a flash crypto crash.
DOGE, the largest meme coin, lost 2% to trade at $0.1414 as of 2:40 a.m. EST, dropping its weekly performance by more than 10%.
Top 5 biggest meme coins (Source: CoinMarketCap)
PEPE, WIF, FLOKI and SHIB cannot overcome the bearish attack
The rest of the top 5 meme coins they all suffered round-the-clock losses as well. FLOKI was the biggest loser with a drop of more than 7%. Its dog-themed counterparts failed to break the trend, with SHIB and WIF down 3% and 4% respectively.
SHIB, PEPE, WIF and FLOKI also saw their weekly performance dip deeper into the red as the meme coin market continued its longer run. negative trend. WIF bled the most in the past seven days after its price fell more than 18% during this period.
Some smaller meme coins have bucked the trend
Several smaller meme coins have broken the downward trend. Byte (BYTE) emerged as the best performer, with an increase of more than 70%, according to CoinGecko. Jesus Coin (JESUS) and Hoppy (HOPPY) were also in the green with gains of 8% each.
Smaller tokens outperforming the meme coin leaders may indicate that traders and investors are seeking protection from the bearish storm in cryptos that are not as actively traded and not as affected by major market moves.
Newly launched pre-sales that are not yet listed on the stock exchange and subsequently not sensitive to market volatility can also attract investors.
#PlayDoge another Big W today, raising $3.5 million #Presale! 🚀💫
ICYMI: We’re gone #MultiChain! 🌐🎉#To expand is now live on both #BNB And #ETH chains that offer even more $PLAY 💰
Rewards vary per chain 🌟
Buy now! 👇 https://t.co/JT0VEofqf2#MemeCoin #P2E #Crypto pic.twitter.com/XghA0jlfbU
— PlayDoge (@PlayDogeGame) June 10, 2024
Analyst favorites at the moment include PlayDoge (PLAY), a play-to-earn Dogecoin derivative that has raised $3.7 million in less than two weeks.
WienerAI (WAI) is another popular pre-sale that has generated nearly $5.4 million in funds raised Sealana (SEAL) on Solana offers investors one last chance to buy after passing $4 million.
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- SolidProof checked – playdoge.io
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