As Bitcoin, the largest cryptocurrency, sees growth, meme cryptocurrencies are losing value. Let's examine the market dynamics and expert opinions.
Decline of Meme Cryptocurrencies
The meme cryptocurrency segment lost over $100 million in capitalization in the last 24 hours. Among the 10 worst performers are Solana's Dogwifhat (WIF) and Bonk (BONK). Dogwifhat lost 2.8% over the past day, while Bonk decreased by 2.1%. Meanwhile, Peanut the Squirrel (PNUT) dropped 3% in market cap.
Traders on Meme Cryptocurrencies Growth Prospects
Despite the overall decline, some meme cryptocurrencies are showing growth. SPX6900 and ai16z rose by 20% and 21% respectively in market capitalization. Renowned trader Henrik Zeberg is optimistic about the future growth of meme cryptocurrencies and believes they are in a consolidation phase.
Movement of Major Meme Cryptocurrencies
Dogecoin (DOGE), the largest meme cryptocurrency, is up by 2.5% and trades at $0.39 on major exchanges.
Meme cryptocurrencies continue to show mixed results in the market. Despite short-term declines, traders are anticipating possible vibrant growth in the future.
