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 results in 24 hours
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As the cryptocurrency correction accelerates, meme coins are once again among the worst victims due to their high volatility. Meme coin traders have faced a wave of eight-figure liquidations over the past 24 hours.
Meme Coins BRETT and FLOKI Post Double-Digit Losses; SHIB and WIF are also under pressure
Brett or Brett on Base (BRETT), Coinbase’s largest Base L2 (BASE) meme coin, is posting double-digit losses for the second consecutive day. It is once again among the worst performers on the top 100 list, losing 15.2% overnight. The asset is extremely close to falling below the important capitalization level of $1.5 billion.
Image by CoinGecko
FLOKI, another mainstream meme cryptocurrency with a large community, is fighting for its place in the top 10 after another 10% was lost in 24 hours.
Other top-tier meme coins also underperformed the market benchmark. Dogwifhat (WIF) lost 9.6%, while Shiba Inu (SHIB) lost 6.2%. The WIF is close to seeing its lower limit at $2.5 billion.
Dogecoin (DOGE), the largest meme cryptocurrency, is down 5.6%, while the cryptocurrency market as a whole lost 3.7% in capitalization.
The continuous dropdown of crypto memes is accompanied by extreme liquidations, such as covered from U.Today earlier this week.
The cat-themed Base meme coins are the most affected
CoinGlass data shows that PEPE, WIF and DOGE traders are among the most affected by liquidations, especially in the long segment.
In terms of categories, cat-themed meme coins and Base meme coins are underdogs today, CoinGecko data shows. The categories lost 18.7% and 15.1% of their caps overnight.
Losing just 3.1%, Bonk (BONK) looks like the best-performing meme coin today.
About the author
Vladislav Sopov
Blockchain analyst and writer with scientific background. 6+ years in IT analytics, 3+ years in blockchain.
He has worked in independent analyzes and start-ups (Swap.online, Monoreto, Attic Lab etc.)