Against the backdrop of market corrections and consolidations witnessed recently, meme coins once again nabbed significant investor attention today, Aril 5, jotting down remarkable downturns in the past 24 hours. Some of the top meme coins, encompassing Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF), Pepe (PEPE), and Book of Memes (BOME), noted a remarkable plunge in prices, primarily attributed to a plethora of on-chain dynamics hovering over the crypto horizon. Here’s a closer look into the top 5 meme coins, mentioned above, and potential reasons why they witnessed a bearish trend in the market today:

在最近出現的市場調整和整合的背景下，Meme 幣今天（Aril 5）再次吸引了投資者的廣泛關注，記錄了過去 24 小時內的顯著低迷。一些頂級模因幣，包括狗狗幣 (DOGE)、柴犬 (SHIB)、Dogwifhat (WIF)、佩佩 (PEPE) 和 Book of Memes (BOME)，價格顯著暴跌，主要歸因於過多的鏈上動態盤旋在加密地平線。以下是對上述前 5 個 meme 代幣的仔細研究，以及它們今天市場出現看跌趨勢的潛在原因：

Dogecoin (DOGE)

The largest meme cryptocurrency by global market cap, Dogecoin, has experienced a notable 6.91% drop in price in the past 24 hours and is currently trading at $0.171. This drop by the dog-based meme token reflects a strong downtrend in the market, with on-chain data further validating DOGE’s dip.

狗狗幣 (DOGE) 全球市值最大的迷因加密貨幣狗狗幣在過去 24 小時內價格大幅下跌 6.91%，目前交易價格為 0.171 美元。基於狗的 meme 代幣的下跌反映了市場的強勁下跌趨勢，鏈上數據進一步驗證了 DOGE 的下跌。

Coinglass revealed an 11.08% dip in DOGE’s open interest, accompanied by a 4.49% slip in derivatives volume. This signaled a significant reduction in market activity and investor interest in the asset. Coupled with a tumbled OI-weighted funding rate of 0.0234%, the derivatives data analysis mirrored DOGE’s bearish turn today.

Coinglass 顯示 DOGE 的未平倉合約下降了 11.08%，衍生性商品交易量下降了 4.49%。這標誌著市場活動和投資者對該資產的興趣大幅減少。再加上 OI 加權融資利率下跌 0.0234%，衍生性商品數據分析反映了 DOGE 今天的看跌轉向。

Meanwhile, DOGE liquidations burgeoned in the past 24 hours, reaching $9.50 million, with long positions at $7.33 million and short positions at $2.17 million. This further aligned with DOGE’s dip, as substantial selling pressure pushes supply for the asset in the market.

同時，DOGE 清算量在過去 24 小時內激增，達到 950 萬美元，其中多頭部位為 733 萬美元，空頭部位為 217 萬美元。這進一步與 DOGE 的下跌相符，因為巨大的拋售壓力推動了市場上資產的供應。

Shiba Inu (SHIB)

Another meme coin, Shiba Inu, a.k.a. the self-proclaimed Dogecoin killer, noted a 2.86% fall in its price in the past 24 hours and is currently resting at $0.00002672. Positioned as Dogecoin’s rival, even SHIB’s bearish turn surfed along bearish on-chain metrics spotlighted by Coinglass.

Shiba Inu (SHIB) 另一種迷因幣 Shiba Inu，又名自稱狗狗幣殺手，指出其價格在過去 24 小時內下跌 2.86%，目前價格為 0.00002672 美元。作為狗狗幣的競爭對手，即使 SHIB 的看跌轉向也隨著 Coinglass 所關注的看跌鏈上指標而變化。

Intriguingly, SHIB’s open interest plunged 1.91%, whereas the OI-weighed funding rate continued its bearish movement at 0.0387%, affirming Shiba Inu’s fall. Additionally, SHIB’s liquidations totaled $627.56K, with long positions at $296.84K and short positions at $330.72K, further mirroring the token’s bearish turn today.

有趣的是，SHIB 的未平倉合約暴跌 1.91%，而 OI 加權融資利率繼續看跌至 0.0387%，證實了 Shiba Inu 的下跌。此外，SHIB 的清算總額為 627.56K 美元，多頭部位為 296.84K 美元，空頭部位為 330.72K 美元，進一步反映了該代幣今天的看跌轉向。

Dogwifhat (WIF)

Another dog-based meme currency that runs on the Solana blockchain, Dogwifhat, jotted an attention-nabbing 13.05% dip in its price in the past 24 hours, reaching $3.42. This dip in WIF’s price follows the broader downtrend in the meme coin genre, with on-chain data further certifying the meme coin’s price downturn.

Dogwifhat (WIF) 另一種在 Solana 區塊鏈上運行的基於狗的 meme 貨幣 Dogwifhat 的價格在過去 24 小時內下跌了 13.05%，達到 3.42 美元，引人注目。 WIF 價格的下跌跟隨了 meme 幣類型的更廣泛的下跌趨勢，鏈上數據進一步證明了 meme 幣的價格下跌。

Coinglass revealed an 11.09% decrease in WIF’s open interest, whereas its OI-weighted funding rate plunged to 0.0226%, flagging out a bearish market trend for the asset. Further escorted by liquidations worth $1.89 million, with $1.61 million in long and $272.96K in short positions, WIF’s on-chain metrics accredit its fall.

Coinglass 顯示，WIF 的未平倉合約減少了 11.09%，而其 OI 加權融資利率則暴跌至 0.0226%，預示著該資產的看跌市場趨勢。進一步伴隨著價值 189 萬美元的清算，其中多頭頭寸為 161 萬美元，空頭頭寸為 27.296 萬美元，WIF 的鏈上指標證實了其下跌。

Pepe Coin (PEPE)

A frog-based meme token, coming as a first in a list dominated by dog-based meme coins, PEPE recorded a drop of 6.71% in the past 24 hours and is currently trading at $0.0000066. Functioning atop the Ethereum blockchain, even PEPE took a bearish stage today, falling in line with the token’s on-chain data.

Pepe Coin (PEPE) 一種基於青蛙的 meme 代幣，是以狗為基礎的 meme 代幣中的第一個，PEPE 在過去 24 小時內下跌了 6.71%，目前交易價格為 0.0000066 美元。在以太坊區塊鏈上運行的 PEPE 今天也出現了看跌階段，與代幣的鏈上數據一致。

PEPE’s open interest slipped 5.66%, and its derivatives volume decreased 5.88%, indicating a strong downtrend for the token in the market. In sync with a fallen OI-weighted funding rate at 0.0215% and liquidations worth $2.12 million, PEPE further anchored its bearish turn in the broader crypto market. Concerning this, long positions liquidated were $1.69 million, whereas short positions liquidated totaled $435.97K.

PEPE的持倉量下降了5.66%，其衍生性商品交易量下降了5.88%，顯示該代幣在市場上呈現強勁下跌趨勢。與 OI 加權融資利率下降至 0.0215% 和清算價值 212 萬美元同步，PEPE 進一步鞏固了其在更廣泛的加密貨幣市場的看跌轉向。就此而言，多頭部位清算金額為 169 萬美元，而空頭部位清算金額總計 435,970 萬美元。

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Book of Meme (BOME)

Another Solana meme coin on the list, Book of Meme (BOME), rode a wave of bearish sentiments in the market today. The BOME price plummeted 13.50% in the past 24 hours and is currently at $0.01374. Mirroring a bearish trend with its on-chain data weighing in, BOME’s price fall is quite similar to the meme coins mentioned above.

Book of Meme (BOME) 名單上的另一個 Solana meme 代幣 Book of Meme (BOME) 今天在市場上掀起了一波看跌情緒。 BOME 價格在過去 24 小時內暴跌 13.50%，目前為 0.01374 美元。 BOME 的價格下跌與上述 meme 幣非常相似，反映了鏈上數據的看跌趨勢。

BOME’s open interest tumbled 13.64%, followed by a volume plunge of 2.15%, showcasing a significant reduction in investor interest, followed by decreased trading activity for the Solana-based meme token. This adds up to BOME’s massive fall, which was further accompanied by $2.13 million worth of liquidations. Notably, long positions liquidated $1.83 million, whereas short positions liquidated $292.17K.

BOME 的未平倉合約下跌 13.64%，成交量暴跌 2.15%，顯示投資者興趣大幅下降，隨後基於 Solana 的 meme 代幣的交易活動減少。這導致 BOME 大幅下跌，並進一步伴隨著價值 213 萬美元的清算。值得注意的是，多頭部位清算了 183 萬美元，而空頭部位則清算了 292,170 萬美元。

In the interim, it is worth noting that 89,908 traders were liquidated in the past 24 hours, with total liquidations totaling $268.78 million. The most significant single liquidation order occurred on OKX, with ETH-USD-SWAP worth $6.00M.

值得注意的是，過去 24 小時內有 89,908 名交易者被清算，清算總額為 2.6878 億美元。最重要的單筆清算訂單發生在 OKX，價值 600 萬美元的 ETH-USD-SWAP。

Moreover, the slump in the prices of these meme coins also rides the wave of a broader correction in the crypto market, birthing sentiments of cushioned prices ahead.

此外，這些迷因幣價格的暴跌也伴隨著加密貨幣市場更廣泛的調整浪潮，催生了未來價格緩衝的情緒。

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