Memecoins
SHIB Rivals BRETT, FLOKI and BONK in Red as Meme Coin Segment Plunges
Vladislav Sopov
BRETT, “Pepe’s Friend on Base”, the only top 100 asset to post double-digit losses today
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While the cryptocurrency segment is showing poor performance, meme coins are underperforming. One of the largest meme cryptocurrencies, Floki Inu (FLOKI), is dangerously close to falling out of the top 50 digital assets by market capitalization.
BRETT, FLOKI, BONK among the top 100 worst performing cryptocurrencies
Today, June 10, 2024, all the largest meme coins are in the red zone in a stable cryptocurrency market. “Based Brett” (BRETT), a flagship meme coin on Coinbase’s Base, marketed as “Pepe’s Friend on Base,” is the only cryptocurrency in the top 100 that lost more than 10% overnight .
Image by Coingecko
Brett (BRETT) has lost 10.2% in the last 24 hours. Floki (FLOKI) is down 5.2% and is very close to being replaced by The Graph (GRT) as the 50th largest cryptocurrency by market cap, CoinGecko data He says.
Bonk (BONK), the most overvalued meme cryptocurrency after Solana (SOL), lost 4.3%. Top-ranked meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) lost about 1% each, which is close to today’s market benchmark.
Meanwhile, amid reports that Base (BASE) has surpassed OP Mainnet in total value locked (TVL), some of its meme coins have expanded their rallies.
ChompCoin (CHOMP) has gained over 40% in one day, while Basenji (BENJI) is up 14% and is targeting a $90 million valuation for the first time ever.
AI coins are also under pressure
In total, the Basic meme coin category added 12.1% overnight, data from CoinGecko shows.
The AI cryptocurrency segment is yet another underperforming segment today. As interest in AI cryptocurrencies fades, they are mostly losing capitalization.
Flagship AI coin Fetch.AI (FET) is down 2.6%, just like its rival Oraichain (ORAI), while Cardano-linked AI protocol Singularity.NET (AGIX) is down 4%.
Bitcoin (BTC) changes hands at $69,510, up 0.8% in 24 hours.
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.)