3 Crypto Losers Of The Week: Dogwifhat, Brett & PEPE Price Down

Cryptocurrency Market Outlook: Stagnant volatility, Mixed Performance

The cryptocurrency market has exhibited a combination of stability and volatility this week. While market leaders like Bitcoin and Ethereum seek stability, meme coins have faced a decline, with notable losses in PEPE, WIF, and Brett.

Meme Coins Struggle: Correction Phase Continues

The meme coin sector, which had a strong showing in the first quarter, has entered a correction phase and underperformed market leaders. Dogwifhat (WIF), Brett (BRETT), and Pepe (PEPE) have been the most notable performers of the week.

Dogwifhat (WIF): Losses Mount

WIF began the week positively but fell short of sustaining momentum, facing rejection at $1.80. It has lost approximately 30% of its value, making it the worst-performing cryptocurrency of the week.

A resumption of the selling trend is evident on the daily chart, following a brief pullback. WIF encountered strong selling pressure in late July and broke below monthly lows. A further 15% decline is possible until reaching the demand zone at $1.21.

Brett (BRETT): Downward Spiral

BRETT is the second-worst performing asset this week, losing close to 18%. It has been in a correction phase since June, forming successive lower highs.

The daily chart shows a declining parallel channel pattern, with the price bound within its boundaries. Despite a live market capitalization of $837.4 and a ranking of 71st, BRETT remains below key exponential moving averages, indicating a bearish trend.

Pepe (PEPE): Price Action

PEPE has lost nearly 14% this week, becoming the third-worst performer. The PEPE/USD chart displays a falling wedge formation. Currently trading near $0.0000074, it has gained 0.04% intraday.

Pepe, a meme coin inspired by the internet meme "Pepe the Frog," has a deflationary model built on Ethereum. It ranks as the third-largest memecoin cryptocurrency, behind Dogecoin and Shiba Inu.

Currently, Pepe is consolidating near the demand zone and the lower boundary of the falling wedge pattern. A breakout above $0.0000087 could lead to a rise towards $0.0000109.