6 Meme Coins Crypto To Avoid Until After Halving

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Meme coins are experiencing a decline at the moment, particularly as the upcoming Bitcoin halving approaches next week. This short-term loss has caused investors to feel apprehensive.

The prices of meme coins like Dogewifhat (WIF), Pepe (PEPE), Coq Inu (COQ), BOOK OF MEME (BOME), Degen (DEGEN), and Toshi (TOSHI) have seen substantial declines. This downward trend is forecasted to persist until Bitcoin undergoes its halving event. Potential investors might want to wait before jumping in, as the market may require more stability before making significant gains.

1. Dogwifhat (WIF)

In simple terms, Dogwifhat (WIF), a popular meme token on the Solana blockchain, has witnessed a significant drop in value lately. The token’s price chart shows a downward trend.

If the price is dropping, investors may feel cautious about adding more funds since the downward trend indicates doubt among current owners. This pessimistic view might result in additional selling, driving the coin’s price lower.

6 Meme Coins Crypto To Avoid Until After Halving

Over the last week, the WIF price has dropped over 20%, going from $4 to $2. At present, Dogwifhat is valued at $2.67, representing a 22% decrease in just one day. This downward trend suggests a bearish market. Currently ranked 42nd on CoinMarketCap, WIF has a market capitalization of approximately $2.6 billion.

2. Pepe (PEPE)

Pepe, or PEPE for short, which is a well-known meme token functioning on the Ethereum network, has experienced a substantial price drop of approximately 33% in the past month. This declining trend signifies increasing uneasiness among investors and a preference for more secure investments with the upcoming Bitcoin halving event. It’s advised that potential investors exercise caution before adding PEPE to their portfolios to minimize potential losses.

Pepe’s current price is at $0.000005869, representing a 19% drop in the last 24 hours. Over the past week, there has been a 13% decrease in Pepe’s value, suggesting increased selling activity among investors. Following Bitcoin’s halving, meme coins like Pepe might rebound if the market mood turns favorable.

3. Coq Inu (COQ)

Coq Inu stands out as a popular meme coin on the Avalanche (AVAX) platform, with a strong branding message as the “leader” in its specific sector. Launched by respected figures within the AVAX community, they abstained from taking any initial token allocation for themselves.

The cost of Cog Inu is presently at $0.000002946, marking a 14% decrease in the last day and a 29% drop over the past week. This meme coin has been a questionable choice for investors due to its significant price downturn during a market that’s already volatile.

4. BOOK OF MEME (BOME)

In the world of cryptocurrencies, BOME is making waves as a fresh and exciting addition to the Solana blockchain. By merging the appeal of memes with the functionalities of decentralized storage and trading, BOME aims to shake up the web3 scene.

In the last month, BOME underwent an impressive 10-fold increase in value, positioning it as a notable altcoin within the Solana ecosystem. Lately, however, there’s been a minor setback – a 26% decline over the past week. This has left some investors questioning whether BOME’s remarkable growth can be sustained.

The price of Book of Meme is currently at $0.01004, representing a 10% decrease over the past 24 hours. Given this decline, it might be wise to hold off on investing in Book of Meme until after the Bitcoin halving event.

5. Degen (DEGEN)

DEGEN (DEGEN) began as a token given to users who were active in Farcaster’s Degen community. Originally intended as a humorous currency, it has since gained a large fan base amongst developers, crypto content producers, and fans who have purchased the coin.

The DEGEN‘s position on CoinMarketCap is now number 221, and its market value amounts to $387 million. However, the token’s price has seen a significant drop in the last 24 hours, falling by over 20%, causing concern among investors. Moreover, its price has decreased by nearly 28% during the past week, adding to the uncertainty and reluctance among potential buyers.

6. Toshi (TOSHI)

Toshi (TOSHI), an homage meme coin to Bitcoin’s enigmatic creator, Brian Armstrong’s feline friend, and the pseudonymous innovator Satoshi Nakamoto, has gained recognition in the meme coin sector.

6 Meme Coins Crypto To Avoid Until After Halving

The current price of Toshi is $0.0005049, an 11% decrease over the past day. The market capitalization is $206 million, ranking 283 in the Coin Market Data. With the current decline, Investors should avoid investing in the meme coin, especially in the volatile period leading up to the Bitcoin halving event.

Bottom Line

Before Bitcoin’s halving occurs, it is advisable to exercise caution and avoid investing heavily in meme coins. After the event, there might be a price increase for these coins, but for now, it’s important to remain cautious.

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2024-04-13 14:10