Memecoins Sink to New Lows as Crypto Market Falters

Memecoins Suffer Losses Amid Market Downturn

Memecoins such as Dogecoin, Pepe, and Dogwifhat have experienced significant declines during the recent market dip.

Market Overview

The cryptocurrency market has faced substantial pressure, leading to a 5.58% drop in its overall capitalization. Bitcoin fell to $58,034, a 5% decrease, while Ethereum dipped to $2,481, a 20-day low. Liquidations totaling $110 million have occurred in the past hours.

Memecoin Market

The meme coin market cap declined by 5.3%, despite their historically high volatility.

Dogecoin (DOGE)

• Decreased 4% in the past 24 hours to $0.1003.
• Trading volume surged by 31%.
• Reached a 19-day low of $0.1850.
• Analysts predict a potential rise to $0.1156 or a dip to $0.0899, depending on market sentiment.

Pepe (PEPE)

• Dropped 4% in the past 24 hours to $0.000008089.
• Trading volume increased by 33%.
• Reached a 9-day low of $0.00000703.
• Analysts suggest a potential rise to $0.00000923 or a dip to $0.00000660, based on market conditions.

Dogwifhat (WIF)

• Declined 6% in the past 24 hours to $1.63.
• Trading volume increased by 32%.
• Reached a 7-day low of $1.51.
• Analysts speculate a potential rise to $2.17 or a dip to $1.30, dependent on market sentiment.

The market downturn has sparked concern among investors, who are closely monitoring the situation for potential shifts in sentiment and price fluctuations.