Memecoins
The decline of memecoins: investors prefer other cryptocurrencies
![GoldBrick](https://tokentalk.top/wp-content/uploads/2024/05/The-decline-of-memecoins-investors-prefer-other-cryptocurrencies.jpg)
In the crypto industry, it is clear that memecoins will not disappear completely. However, recently the trading activity and overall market value of memecoins are decreasing.
Although some “abnormal” coins have managed to stay afloat, most memecoins are struggling to keep up with the recent market shift.
It appears that investors are diverting their attention and money to more established assets like Bitcoin and Ethereum. Let’s see all the details below.
Crypto News: Trading Activity and Overall Value of Memecoins Decline
As expected, recently cryptocurrencies like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) underperformed the rest of the market.
Showing a reversal of the trend from the enthusiasm that had previously characterized the sector.
According to data from CoinGeckoThe overall memecoin market capitalization declined over the past 24 hours, recording a 2.7% decline and reaching $55.48 billion.
Among the coins that suffered the biggest losses, Bonk (BONK) fell 6% over the past day. Floki (FLOKI) lost 3.3%, while Memecoin (MEME) comes in third position with a drop of 3% over the same period.
DOGE, the top meme coin by market capitalization, saw its price drop 2.1% in one day, bringing its overall value to $22.74 billion.
Despite the decline, DOGE continues to represent almost 41% of the overall market of memecoins.
Even its main competitor, SHIB, saw a decline on May 6, with a 2.4% loss that brought its market capitalization down to $14.29 billion. This consolidation keeps it firmly as the second most popular memecoin.
Even altcoins are falling: the continuing decline after the memecoin boom
Historically, cryptocurrency bull markets tend to be driven by an altcoin boom.
However, in line with the current memecoin price correction, even Total3the total market capitalization of all cryptocurrencies excluding Bitcoin and Ether, suffered a setback after the rally that began in October 2023.
Concretely, Total3 has fallen 15% since the first week of April, reaching $661.41 billion. This decline led to the formation of a descending parallel channel on the weekly chart.
Traders took profit when the relative strength index (RSI) on the weekly chart reached an overbought level, surpassing the value of 70, amid the frenzy of memecoins based on Solana.
An RSI above 70 indicates that altcoins have been overvalued, leading to a trend reversal or corrective pullback.
Altcoins continue to follow a downward trend, as confirmed by the bearish movement of Total3 within this descending parallel channel.
The RSI has fallen from 89 to 62 over the past seven weeks, suggesting that the market may still be bearish.
If Total3 fails to breach the upper limit of the descending channel at $660 billion, it is possible that altcoins, including major memecoins, will continue to suffer losses. other fluctuations in the next weeks.
Trading volume: 81% drop since early March
Weekly memecoin trading volume has been declining since March. According to Dune data, memecoin transactions on all blockchains including Ethereum and Solana, fell by 81%.
Specifically, going from a high of $998.55 million in March to $191.88 million in the week ending May 3. This decline suggests a loss of interest or confidence in the sector on the part of traders.
If we consider the most important memecoins, CoinMarketCap data shows that DOGE trading volume fell by 50% between March 7 and May 6.
Similarly, SHIB and PEPE volumes fell by 88% and 51%, respectively, during the same period.
Furthermore, the recent change in tone of US Federal Reservewith the Federal Open Market Committee’s May 1 statement reducing the likelihood of interest rate cuts in 2024, has increased risk aversion in the cryptocurrency market.
This change had a particular impact on memecoins, which are among the most profitable assets of 2024.
As the US economy appears to be strengthening, traders are turning to safe haven assets like American treasures, preferring them to cryptocurrencies, which do not offer stable returns.
This change in direction reduces the appeal of riskier investments, notably memecoins.
As a result, investors will likely realize profits on memecoins in the first quarter of 2024, reinvesting in other segments of the crypto ecosystem.
Memecoins
Memecoins dominate major derivatives in terms of open interest | Flash News Detail
![Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum](https://tokentalk.top/wp-content/uploads/2024/06/Bitcoin-Dominance-May-Have-Peaked-Ethereum-ETF-Could-Spark-Altcoin.jpg)
Disclaimer
Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.
Memecoins
Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings
![Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings](https://tokentalk.top/wp-content/uploads/2024/08/1722527106_Have-a-profitable-August-with-Shiba-Inu-and-Mpeppe-MPEPE.jpg)
August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.
The viral power of memecoins
Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.
Shiba Inu: riding the wave of popularity
Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.
Ecosystem expansion
THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.
Balancing humor and professionalism
Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.
Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.
Expanding Reach and Adoption
Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.
Why August is the month to invest
As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.
Conclusion: Don’t miss the benefits
Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.
For more information on the Mpeppe presale (MPEPE):
Visit Mpeppe (MPEPE)
Join us and become a member of the community:
Memecoins
Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further
![Solana climbs 4% on the back of rising Meme Coins and Alts](https://tokentalk.top/wp-content/uploads/2024/07/Solana-climbs-4-on-the-back-of-rising-Meme-Coins.jpg)
Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.
As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.
The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.
Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.
Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.
Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.
Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.
In the world of meme coins, when it rains, it rains.
Edited by Stacy Elliott.
Memecoins
Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD
![Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD](https://tokentalk.top/wp-content/uploads/2024/08/Trader-Says-Bitcoins-Path-to-100000-Is-Currently-Programmed-Updates.jpg)
A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.
Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.
“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”
Source: Altcoin Sherpa/X
At the time of writing, Bitcoin is trading at $66,236.
According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.
Source: Altcoin Sherpa/X
Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.
Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.
Source: Altcoin Sherpa/X
POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.
Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.
“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”
Source: Altcoin Sherpa/X
WIF is trading at $2.27 at the time of writing.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: DALLE3
-
Videos4 months ago
Money is broke!! The truth about our financial system!
-
News4 months ago
More Crypto AI Alliances Emerge Following $7.5 Billion Token Merger — TradingView News
-
Altcoins4 months ago
Render vs. Theta; Which DePIN Altcoin to buy in May
-
News4 months ago
Over 1 million new tokens launched since April
-
Videos4 months ago
Fantom: Potential FTM Price and BIG Updates – The Latest!!
-
NFTs4 months ago
Surprisingly, Bored Apes is now laying off employees as the NFT market disintegrates
-
Videos4 months ago
Recession soon?? What this means for you and your wallet!!
-
NFTs4 months ago
Solana NFTs jump 30% in 24 hours: what’s behind the increase?
-
Memecoins4 months ago
When memecoins reign supreme in the ecosystem!
-
Memecoins4 months ago
Solana Dev hospitalized with third-degree burns while trying to pump Meme Coin
-
Videos3 months ago
Crypto News: ETH ETFs, Pro-Crypto Politics, UNI, DOGE & MORE!
-
NFTs4 months ago
EduTech Platform Banksters Airdrops NFTs Worth 100K USDT