As a researcher, I have closely observed the cryptocurrency market and specifically, the performance of Solana meme coins over the past few days. It’s clear that the market has been volatile, with some assets experiencing outflows while others have managed to post gains. Solana meme coins, in particular, have been sideways trading, with bulls attempting a major price recovery.
Solana’s meme coins have been trading horizontally recently as bulls make an effort to instigate a significant price increase. In the previous 24 hours, various cryptocurrencies experienced declines while some managed minor advancements. Bitcoin (BTC), the market frontrunner, shifted from the red zone with minimal inflows today, bringing its weekly figures closer to a comparable position.
As a crypto investor, I’ve noticed that altcoins and popular meme coins have been making attempts to recover following Bitcoin’s trend, but only if there’s a shift in broader economic conditions. The total trading volume has gone up across the board, yet the overall market capitalization currently hovers at $2.53 trillion, which represents a minor 0.3% decrease. Solana’s token trading volumes have seen a dip, but its market cap has expanded by 2.5% to reach $8.85 billion due to new assets being introduced. At this moment in time, three Solana meme coins are experiencing outflows as investors move their funds elsewhere.
Bonk (BONK)
The prices of popular meme coins have taken a hit during the current crypto market slump. Bonk’s value now stands at $0.0000272 following a 5.4% decrease in the past day. The weekly picture reveals a similar trend for top meme coins, with sentiments dropping and Bonk suffering a 20.8% loss over the last seven days. Trading volumes have also decreased, but there have been some encouraging signs of intraday recovery as coins try to bounce back.
The long-term outlook remains optimistic for the asset, with a monthly growth rate of 18.8%. However, BONK‘s market value has decreased to $1.8 billion, and the trading volume currently stands at $242 million.
BOOK OF MEME (BOME)
Over the past 24 hours, the price of BOME has dropped by 4%, now sitting at $0.01064. This decline comes after investors showed bearish sentiment towards the asset this month, leading to significant outflows. The weekly drop for BOME amounts to a staggering 20.7%, while its monthly outflows reach 4.4%. These figures reflect the losses incurred due to the price increases experienced during previous market highs.
Popcat (POPCAT)
Popcat is among the leading meme coins on the Solana network, experiencing a 3.2% decrease today and substantial outflows totaling 15.9% over the past week. The coin’s recent performance pales in comparison to its previous impressive growth. Currently, Popcat’s assets are priced at $0.3623, giving it a market capitalization of $352 million. Trading volumes during the day have declined to $12.1 million.
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2024-06-10 17:29