Memecoins
SHIB, FLOKI, WIF, BRETT: the Meme Coin bloodbath continues
Vladislav Sopov
Shiba Inu (SHIB), Floki (FLOKI), Brett (BRETT) are once again among the worst performers in 24 hours
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As the cryptocurrency correction accelerates, meme coins are once again among the hardest hit due to their high volatility. Meme coin traders faced an eight-figure liquidation wave over the past 24 hours.
Meme Coins BRETT and FLOKI Post Double-Digit Losses; SHIB and WIF also under pressure
Brett or Brett on Base (BRETT), the largest meme coin on Coinbase’s L2 Base (BASE), is posting double-digit losses for the second day in a row. Once again, it is among the worst performers in the top 100, losing 15.2% overnight. The asset is about to fall below the important capitalization level of $1.5 billion.
Image of CoinGecko
FLOKI, another mainstream meme cryptocurrency with a large community, is fighting for its place in the top 10 after losing another 10% in 24 hours.
Other top meme coins also underperformed the market benchmark. Dogwifhat (WIF) is down 9.6%, while Shiba Inu (SHIB) is down 6.2%. WIF is about to see its cap below $2.5 billion.
Dogecoin (DOGE), the largest meme cryptocurrency, is down 5.6%, while the cryptocurrency market as a whole has lost 3.7% in capitalization.
The ongoing cryptocurrencies drop-down is accompanied by extreme liquidations, like covered by U.Today earlier this week.
Basic cat-themed pieces suffer the most
Data from CoinGlass shows that PEPE, WIF and DOGE traders are among the most affected by liquidations, mainly in the long position segment.
In terms of categories, cat-themed meme coins and core meme coins are losing out today, according to CoinGecko data. The categories lost 18.7% and 15.1% of their ceiling overnight.
Losing only 3.1%, Bonk (BONK) appears to be the best performing meme coin today.
About the Author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. 6+ years in computer analysis, 3+ years in blockchain.
Worked in independent analyzes as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)