At some stage in the last year, the tip 10 meme cash have skilled vital losses, in accordance with info shared by Lookonchain, a stunning cash tracker on X.
The evaluation unearths that these meme cash have dropped a median of 63.73% from their high values. This fall notably coincides with a upward push in PolitiFi meme cash, largely attributed to the upcoming U.S. presidential elections. Furthermore, SunPump and Pump.fun tokens have neutral no longer too lengthy ago taken the eye of merchants.
52-Week Highs and Lows
Particularly, Dogecoin (DOGE) saw a high of $0.2266 and a low of $0.05747, reflecting a 74.64% fall from its 52-week high.
At some stage in the last year, the tip 10 #MEMEcoins have dropped a median of 63.73% from their high.$DOGE: -57.93%$SHIB: -70.86%$PEPE: -58.16%$WIF: -70.93%$BONK: -64.63%$FLOKI: -65.97%$BRETT: -62.59%$POPCAT: -43.77%$BOME: -Seventy 9.48%$MEW: -62.Ninety 9% pic.twitter.com/GzRNI4dYaB
— Lookonchain (@lookonchain) September 2, 2024
Shiba Inu (SHIB) skilled an awfully good sharper decline, with a high at $0.00004534 and a low of $0.000006688, marking an 85.25% lower. PEPE confronted one of many steepest drops, plummeting from $0.00001718 to $0.0000006071, a 96.47% reduction.
Recent Market Performance
Despite these tall declines, some meme cash have confirmed signs of recovery. To illustrate, FLOKI, after falling 95.56% from its high, has reduced its loss to 65.97% from its high ticket.
In an analogous trend, POPCAT, which as soon as dropped Ninety 9.62%, now reveals a 43.77% decline from its high, suggesting a that which potentialities are you’ll well be factor in resurgence in investor pastime. Particularly, the life like decline during these high meme cash stands at 63.73%, indicating that while some have recovered a minute bit, the overall market remains difficult.
Outlook and Analyst Insights
Amid this turbulent market, there are indications of renewed pastime in meme cash. As of August 13, the overall market capitalization for meme cash had grown to approximately $38.55 billion, representing a 2.25% make bigger. Trading volume also surged by 21.72%, reaching $3.92 billion, signaling increased investor engagement.
Analyst Murad Mahmudov has identified that simplest seven meme cash are for the time being amongst the tip 100 cryptocurrencies. He predicts that this quantity could well upward push to over 25, given the market’s dynamics and rising pastime in meme cash fancy Dogecoin and Shiba Inu, which continue to manufacture comparatively effectively no topic fresh declines.
