Some meme coins are seeing significant daily withdrawals even as gains are made in certain cat and dog-themed tokens. Amid ongoing liquidations in the crypto market, a few meme coins have managed to rally instead.
The total value of cat-themed meme coins in the market is $1.7 billion, representing a 6.6% decrease from the previous day. In contrast, the market capitalization of dog-themed meme coins amounts to $54 billion, with a minimal 0.7% decline over the past 24 hours.
Outflows From Top Assets
Investors have been selling off their holdings in the market rapidly, leading to greater losses for certain assets than others. For instance, popular memecoins such as MEW experienced a 19.7% sell-off within the past day and a 43% outflow during this week. These significant decreases in value have contributed to a pessimistic market atmosphere as the excitement surrounding memecoins wanes.
In a comparable manner, Mog Coin (MOG) and POPCAT have experienced decreases of 8.9% and 16.9%, respectively, over the past week. However, while POPCAT continues to see weekly outflows, MOG is currently experiencing a 13% inflow. This indicates that despite recent stagnation, both assets had previously grown at varying rates.
Today, WEN and CAT experienced significant drops of 16% and 8% respectively. CAT has additionally reported weekly losses. However, WEN still manages a 5.9% increase during this timeframe. In contrast, LMEOW has bucked the trend with a noteworthy rise of 18% over the past day. Furthermore, various memecoins have seen substantial growth, surging as much as 100 times in value within the same period.
Dog-Themed Memecoins
The leading memcoins based on dogs are experiencing losses similar to their feline counterparts. For instance, Dogecoin (DOGE) declined by 6.6%, while Shiba Inu (SHIB) dropped by 1.8% during the recent period. Floki and dogewhats also reported losses of 4.5% each. However, on average, tokens centered around dogs have managed to maintain their weekly gains, with some even surpassing the 20% mark.
Among the top performers today, KiboShib has experienced a significant gain of 46%. Meanwhile, Cheems and Chinu have also surged, with increases of 28.9% and 10%, respectively. This week, KiboShib recorded an impressive rise of over 68%, sparking rumors that investors are shifting their attention towards memecoins.
The current meme coin market is influenced by broader attitudes toward crypto assets and economic conditions, resulting in fluctuating trends and a tendency for investors to withdraw funds.
Top Memecoins Surging 100X Today
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2024-04-09 22:09