Markets

DOGE, SHIB Among Major Laggards as Crypto Market Remains in the Red

Published

on

Alex Dovbnia

Major Meme Coins Underperform; Will Dogecoin Make a Comeback?

Read U.TODAY on

Google News

According to data According to CoinGecko, Shiba Inu (SHIB) and Dogecoin (DOGE) are among the top laggards among major cryptocurrencies. The two meme coins are down 3.5% and 2.5% respectively.

For comparison, Bitcoin (BTC) is down 0.9% over the same period. Some other major cryptocurrencies, such as XRP, are currently in the green.

Meme Coins in Red

The entire meme coin sector is currently in the red, with dogwifhat (WIF) falling as much as 6%.

Every cryptocurrency with a market cap above $1 billion has seen losses in the past 24 hours.

Bonk (BONK) and Brett (BRETT) also fell more than 5%. Pepe (PEPE) and Floki Inu (FLOKI) are down 3.1% and 4.9%, respectively.

Mog Coin (MOG) is the only well-established meme cryptocurrency that managed to register a modest price increase (1.7%).

Celebrity Meme Coins Are Disappearing

Even though top meme coins are underperforming right now, they are still doing very well compared to celebrity meme coins.

After seeing their prices skyrocket in June and making headlines, the prices of most celebrity tokens (as expected) ended up crashing by over 90%. Iggy Azalea’s MOTHER token dropped by over 70%.

The niche crypto sector has also been tarnished by bad actors impersonating celebrities such as 50 Cent.

DOGE’s momentum?

Earlier this week, cryptocurrency analyst Ali declared Dogecoin tends to rally after a period of consolidation. The analyst said he is buying more DOGE, implying that he expects the same scenario to play out this time around.

DOGE is up 14% over the past two weeks. However, the leading meme currency is still down 82.2% from its record high set during the 2021 bull run.

About the Author

Alex Dovbnia

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader, and journalist with extensive experience covering everything related to this booming industry, from price analysis to blockchain disruption. Alex has written over 1,000 articles for U.Today, CryptoComes, and other fintech outlets. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets. You can contact him at alex.dovbnya@u.today.

Fuente

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Trending

Exit mobile version