Meme Coins POPCAT, WIF Among Worst Performers in Top 100

Almost All Meme Cryptos Languish Amid Market Apathy

Today, the meme cryptocurrency market faces a significant downturn. Popcat (POPCAT), despite receiving support from crypto investment expert Murad Mahmudov, is among the worst performers, experiencing notable losses.

Popcat, Dogwifhat Among Top Losers

On October 9, 2024, meme cryptocurrencies are experiencing a sharp decline in value. Popcat (POPCAT), the leading cat-themed crypto, has lost 5.9%. Its market capitalization has fallen below $1.2 billion due to low trading volume.

Popcat (POPCAT) was recognized by Murad Mahmudov, who proposed a theory on the "meme coin cycle" at TOKEN 2049 in Singapore. As a result, the token has still gained approximately 15% over the past seven days.

Dogwifhat (WIF), a prominent meme cryptocurrency on Solana (SOL), also underperformed, with a 5.5% drop overnight.

According to CoinGlass data, both Dogwifhat (WIF) and Popcat (POPCAT) bulls have faced losses in cryptocurrency derivatives markets. A majority of the $3.4 million in liquidated positions were long positions in the past 24 hours.

Other notable meme coins like Floki (FLOKI), Bonk (BONK), and Based Brett (BRETT) have also declined by 3-4%.

Dogecoin Shines as an Exception

Shiba Inu (SHIB) has experienced a relatively minor price drop of 1.5%. However, Dogecoin (DOGE), the largest meme coin, stands out as the only cryptocurrency in the sector exhibiting positive performance today.

Over the past 24 hours, Dogecoin (DOGE) has gained 1.3%, and its market capitalization is approaching $16 billion.

The overall cryptocurrency market is down 2.5% today. Bitcoin (BTC) has lost 1.5% of its value, while Ethereum (ETH) has declined by 0.2%.