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:

在最近出现的市场调整和整合的背景下，Meme 币今天（Aril 5）再次吸引了投资者的广泛关注，记录了过去 24 小时内的显着低迷。一些顶级模因币，包括狗狗币 (DOGE)、柴犬 (SHIB)、Dogwifhat (WIF)、佩佩 (PEPE) 和 Book of Memes (BOME)，价格显着暴跌，主要归因于过多的链上动态盘旋在加密地平线上。以下是对上述前 5 个 meme 代币的仔细研究，以及它们今天市场出现看跌趋势的潜在原因：

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.

狗狗币 (DOGE) 全球市值最大的模因加密货币狗狗币在过去 24 小时内价格大幅下跌 6.91%，目前交易价格为 0.171 美元。基于狗的 meme 代币的下跌反映了市场的强劲下跌趋势，链上数据进一步验证了 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 显示 DOGE 的未平仓合约下降了 11.08%，衍生品交易量下降了 4.49%。这标志着市场活动和投资者对该资产的兴趣大幅减少。再加上 OI 加权融资利率下跌 0.0234%，衍生品数据分析反映了 DOGE 今天的看跌转向。

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.

与此同时，DOGE 清算量在过去 24 小时内激增，达到 950 万美元，其中多头头寸为 733 万美元，空头头寸为 217 万美元。这进一步与 DOGE 的下跌相符，因为巨大的抛售压力推动了市场上资产的供应。

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) 另一种模因币 Shiba Inu，又名自称狗狗币杀手，指出其价格在过去 24 小时内下跌 2.86%，目前价格为 0.00002672 美元。作为狗狗币的竞争对手，即使 SHIB 的看跌转向也随着 Coinglass 所关注的看跌链上指标而变化。

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 的未平仓合约暴跌 1.91%，而 OI 加权融资利率继续看跌至 0.0387%，证实了 Shiba Inu 的下跌。此外，SHIB 的清算总额为 627.56K 美元，多头头寸为 296.84K 美元，空头头寸为 330.72K 美元，进一步反映了该代币今天的看跌转向。

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) 另一种在 Solana 区块链上运行的基于狗的 meme 货币 Dogwifhat 的价格在过去 24 小时内下跌了 13.05%，达到 3.42 美元，引人注目。 WIF 价格的下跌跟随了 meme 币类型的更广泛的下跌趋势，链上数据进一步证明了 meme 币的价格下跌。

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 显示，WIF 的未平仓合约减少了 11.09%，而其 OI 加权融资利率则暴跌至 0.0226%，预示着该资产的看跌市场趋势。进一步伴随着价值 189 万美元的清算，其中多头头寸为 161 万美元，空头头寸为 27.296 万美元，WIF 的链上指标证实了其下跌。

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) 一种基于青蛙的 meme 代币，是以狗为基础的 meme 代币中的第一个，PEPE 在过去 24 小时内下跌了 6.71%，目前交易价格为 0.0000066 美元。在以太坊区块链上运行的 PEPE 今天也出现了看跌阶段，与代币的链上数据一致。

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的持仓量下降了5.66%，其衍生品交易量下降了5.88%，表明该代币在市场上呈强劲下跌趋势。与 OI 加权融资利率下降至 0.0215% 和清算价值 212 万美元同步，PEPE 进一步巩固了其在更广泛的加密货币市场的看跌转向。就此而言，多头头寸清算金额为 169 万美元，而空头头寸清算金额总计 435,970 万美元。

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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) 名单上的另一种 Solana meme 代币 Book of Meme (BOME) 今天在市场上掀起了一波看跌情绪。 BOME 价格在过去 24 小时内暴跌 13.50%，目前为 0.01374 美元。 BOME 的价格下跌与上述 meme 币非常相似，反映了链上数据的看跌趋势。

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 的未平仓合约下跌 13.64%，成交量暴跌 2.15%，表明投资者兴趣大幅下降，随后基于 Solana 的 meme 代币的交易活动减少。这导致 BOME 大幅下跌，并进一步伴随着价值 213 万美元的清算。值得注意的是，多头头寸清算了 183 万美元，而空头头寸清算了 292,170 万美元。

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，过去 24 小时内有 89,908 名交易者被清算，清算总额为 2.6878 亿美元。最重要的单笔清算订单发生在 OKX，价值 600 万美元的 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，这些模因币价格的暴跌也伴随着加密货币市场更广泛的调整浪潮，催生了未来价格缓冲的情绪。

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