Today, Dogecoin and Shiba Inu are among the worst performers in the crypto ranking. Other meme coins are also losing ground.
DOGE and SHIB: Worst Performance Dynamics
Dogecoin and Shiba Inu are listed among the 10 worst performing in the top 100 by daily dynamics. Dogecoin is down 3.4%, dropping to $0.1676 and losing $875 million in market cap. Shiba Inu saw a greater drop of 4.1%, losing its rank as the 22nd largest altcoin. While Pepe fell 3.3%, the market benchmark decreased by 2.8%.
Mid-tier Meme Coins Lose Ground
Mid-cap meme coins are also experiencing declines. Dogwifhat dropped 5% and SPX6900 decreased by 4.7% in its market cap. Floki, once a leading dog-themed meme coin, fell by 2.7%, indicating difficulties even among better-known meme coins.
Market and Effects on Meme Cryptos
Bitcoin and Ethereum showed more moderate losses of 0.7%, with the total market registering $200 million in liquidations. Long positions in meme coins account for over 20% of this amount, indicating their significant impact on market dynamics.
Meme cryptocurrencies continue to face significant challenges, reflecting the uncertainty and volatility of the current crypto market.
