Meme coins, often seen as the most volatile and risky side of cryptocurrencies, have started to decline again today after experiencing a rise over the past two days. Especially notable are WIF and PEPE, which made a significant impact over the last two days, as well as the market leader DOGE and its closest follower Shiba Inu (SHIB), all of which have experienced declines. So, how significant are these declines?
DOGE Coin Analysis
Dogecoin (DOGE) continues to experience a noticeable decline. Looking at the price charts related to DOGE, it is seen that its value has dropped by 2.39% in the last 24 hours, reaching $0.1209.
The 7-day price outlook for DOGE indicates a 2.91% decline, while the last 1-hour review shows a 0.33% decrease.
DOGE maintains a market cap of over $17.5 billion, while its trading volume is only $283 million.
Shiba Coin Analysis
SHIB, one of the undisputed stars of the last bull run and often referred to as the DOGE killer, has experienced a decline in the last 24 hours. The decline in SHIB during this period was 2.62%, bringing the price down to $0.00001669. The 7-day price movement for SHIB has also reached 8.20%.
SHIB’s market cap continues to decline. As of the time of writing, the market cap is at $9.834 billion. SHIB’s trading volume has also dropped to $113 million, which means a decline of over 50%.
PEPE Coin Decline
All the gains made by PEPE, which achieved consecutive ATHs last June, have disappeared. The decline in PEPE over the last 24 hours has reached 5.93%, bringing the price down to $0.00001101. The positive outlook in the weekly view has also ended, with the 7-day price movement being negative at 6.69%.
The market cap for PEPE has also fallen below $5 billion. As of the time of writing, PEPE’s market cap is at $4.632 billion. The 24-hour trading volume, which was $1 billion earlier in the week, has visibly dropped to $336 million.
WIF Price Plummets
Another meme coin that has risen since the beginning of the week but couldn’t withstand the market decline is Solana‘s WIF. WIF experienced consecutive increases of 19% and 12% over two days earlier in the week. The value seen today, however, is calculated at $2.02 after a 3% decline.
More importantly, WIF’s 7-day outlook remains positive, unlike its competitors. WIF’s weekly price movement indicates a 13.68% increase.
WIF’s market cap is seen to be over $2 billion, while its trading volume remains above $300 million, indicating more transactions than its major competitors DOGE and SHIB.
