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The general decline in cryptocurrencies continues. The drop in Bitcoin prices that started on Monday peaked today, falling below $61,000. The decline in BTC also affected meme coins. Meme coins, known for their extreme volatility, are not faring well either. So, what is happening at the market’s peak?
How Much is Dogecoin?
Even though Dogecoin, the leading meme coin in the cryptocurrency world, is experiencing a decline today, it still appears stronger compared to its rivals. However, the volatile price movement in BTC is also reflected in DOGE’s price outlook. The decline in the project, openly supported by Elon Musk, continues to worry its investors.
As of the time of writing, DOGE has seen a price movement of -3.34% in the last 24 hours, resulting in a price drop to $0.1092. The price change indicates an 18.36% decline over the past 7 days.
DOGE’s market cap has fallen to $15.8 billion, while its trading volume has dropped to $760 million.
How Much is Shiba Inu?
When examining SHIB, the second-largest meme coin by volume after DOGE, it is evident that the decline is deeper compared to its rival. SHIB’s price has dropped by 6.04% in the last 24 hours, falling to $0.00001418. The decline in SHIB has worried its investors.
SHIB had a dream-like March, reaching $0.42, sparking new ATH journey talks. However, things did not go as expected, and SHIB’s price has been drifting away from this level, continuing to worry investors.
One of the biggest expectations for SHIB is the $0.01 price target. It is believed that this could be achieved through burns. However, SHIB burns have not yet reached the desired level, and with more than 50% of the total supply still in existence and in circulation, the mentioned price level remains a distant possibility for now.
How Much are PEPE and WIF?
Looking at PEPE and WIF, the market’s 3rd and 4th meme coins, the deepening decline is clearly reflected in the charts. First, looking at PEPE, the star of June, the price has dropped by 10.97%, falling to $0.000008783.
Things are not going well for its closest competitor, WIF, either. The largest meme coin on the Solana network, WIF, has seen an 11.86% decline, with the price dropping to $1.62. Recently, there have been comments in the market suggesting that WIF could drop to $1.
