Memecoins
4 Losers Meme Corner of the Week
During the week, as global financial markets faced turbulence, the cryptocurrency scene also saw uncertainty, with major altcoins also experiencing ups and downs. Popular memecoins such as DogecoinPEPE and Shiba Inu, also found themselves in the red zone. Amid the chaos, the overall market cap of memecoins declined by about 2% to $53 billion today. This article will explore the performance of four coin losers from the past week.
1. Moutai (MOUTAI)
Moutai has had a turbulent week, with its price fluctuating wildly, topping the list of memecoin losers. The meme coin saw a 9.07% drop in value over the past day, following a downtrend last week, with a 36% drop.
As of today, its price is $0.01827, with a total market value of $12.73 million. MOUTAI saw a 17.13% decrease in trading volume to $436.2 million over the past 24 hours, with a circulating supply of 23,964,417 MOUTAI tokens.
The Moitai token was created as a tribute to China’s largest alcohol brand, MOUTAI, with a fan club dedicated to bringing East and West closer together. This is not about promoting alcohol consumption, but about building a community around the Kissinger philosophy of problem solving through MOUTAI.
2. Degen (DEGEN)
Over the past week, Degen has faced challenges, experiencing a 3.54% price drop over the past day. Last week’s market turmoil did not spare memecoin, whose value fell by 33.8%.
Currently, Degen is trading at $0.01334, with a total market cap of $189,194,896. The token’s trading volume was $26.98 million over the last 24 hours, with a circulating supply of 2,019,798,885 DEGEN.
Degen is originally a reward token in the Farcaster Degen chain, evolving from one coin to attract developers, crypto enthusiasts, and content creators.
Launched in January 2024 as an ERC-20 token, it turns content into currency within the Farcaster ecosystem, encouraging quality contributions through rewards and connecting online efforts to tangible value.
3. TokenFi (TOKEN)
TokenFi saw 33% losses over the past week and 6.18% over the past day. Nonetheless, it has seen a reduction in market capitalization similar to other memecoins. Currently, TokenFi is valued at $0.09636, with a market cap of $96,357,944. Memecoin trading volume reached $18.6 million in the last 24 hours, while the circulating supply was 193,202,692 TOKEN.
TokenFi, launched by the experienced Floki team, aims to simplify cryptography and asset tokenization to become the world’s leading platform. With the tokenization industry expected to reach $16 trillion by 2030, they say major investor BlackRock sees it as the next evolution of the market.
Leveraging its success with the $3.5 billion Floki token, TokenFi is poised to dominate the tokenization industry.
4. PUPS (ordinal) (PUPS)
Our list of memecoin losers is around PUMPS, recording losses of 31.08% over the last 7 days. This bearish trend resulted in a 4.35% drop in value over the past day. Trading today at $12.83, PUPS has a market cap of $99.65 million.
In the last 24 hours, $1.9 million worth of PUPS was traded, with 150,880 PUPS in circulation.
PUPS is a memecoin featuring cute pixelated puppies on the Bitcoin blockchain. Digital art is permanently saved using Ordinary protocol, which assigns a unique identifier to data and attaches it to a Bitcoin transaction. This allows data to be stored permanently and viewed by the public.
Conclusion
Despite their individual performances, all of these week’s losers faced challenges amid the broader stock market crash, reflecting the volatility and uncertainty prevalent in the cryptocurrency market. Investors should monitor these trends closely and exercise caution in their investment decisions.