Meme Coins POPCAT, WIF Among Lowest Performers in Top 100
Almost all meme cryptocurrencies in the top 100 are experiencing a decline in value today as the market sentiment remains unenthusiastic. Popcat (POPCAT), despite having the backing of crypto investing veteran Murad Mahmudov, has emerged as the fifth worst performer today, recording significant losses.
Today, on October 9, 2024, meme crypto prices are in freefall. Popcat (POPCAT), the largest cat-themed cryptocurrency, has witnessed a 5.9% decrease in its value. Its market capitalization has dipped below $1.2 billion within the last 24 hours due to low trading volume.
Popcat (POPCAT) is one of the prominent meme coins that trader Murad Mahmudov highlighted, arousing enthusiasm among the global crypto community with his “meme coin cycle” theory at TOKEN 2049 in Singapore. As a result, the token is still up by 15% over the past seven days.
Dogwifhat (WIF), a dominant meme cryptocurrency on the Solana (SOL) network, has also let down investors with a 5.5% overnight price drop.
According to CoinGlass data, both Dogwifhat (WIF) and Popcat (POPCAT) bulls are experiencing losses in the cryptocurrency derivatives markets.
Out of a total of $3.4 million in wiped-out positions for both cryptocurrencies, the majority comprises long positions in the past 24 hours.
It is worth noting that other major meme coins are also in the red today. Floki (FLOKI), Bonk (BONK), and Based Brett (BRETT) have all declined by 3-4%.
Shiba Inu (SHIB) has been less affected by the price plunge today, with only a marginal decline of 1.5%. However, Dogecoin (DOGE), the largest meme coin, stands out as the only cryptocurrency in this segment showing positive momentum today.
Over the past 24 hours, the price of Dogecoin (DOGE) has increased by 1.3%, and its market capitalization is once again approaching the $16 billion mark.
The overall crypto market benchmark is down by 2.5% today. Bitcoin (BTC) has lost 1.5% of its value, while Ethereum (ETH) is down by 0.2%.