The past year has been particularly rough for memecoins, with the top 10 tokens in this category down by an average of 63.73% from their peak. Leading crypto analysis platform Lookonchain conducted an analysis of how memecoins have performed over the past 52 weeks, revealing their highest drawdowns and recovery levels.
Introduction
Lookonchain's platform released a detailed analysis showing how much major memecoins have dropped over the past year and providing insights into their current levels compared to their peak values.
52-Week Memecoin Declines
According to Lookonchain's data, the largest memecoins have fallen by an average of 63.73% from their peak values. Here are the details for the main memecoins: - $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: -79.48% - $MEW: -62.99%
Examples and Conclusions
One of the most notable examples is $BONK, which initially dropped by 96.63% but then recovered to a current level of 64.63% from the initial drawdown. This shows that despite significant declines, some memecoins can recover.
In conclusion, the past year has been challenging for memecoins. While some have shown partial recovery, the overall market situation for these digital assets remains volatile.
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