As a seasoned crypto investor with a particular interest in meme coins and AI cryptocurrencies, I’ve seen my fair share of market fluctuations. Today’s news that Floki Inu (FLOKI), Based Brett (BRETT), and Bonk (BONK) are underperforming among the worst-performing top 100 cryptos is disheartening but not entirely unexpected.
In the crypto market’s current slump, meme coins like Floki Inu (FLOKI) are struggling to keep up. With weak performance, FLOKI is on the brink of falling out of the top 50 digital currencies ranked by market capitalization.
BRETT, FLOKI, BONK amid worst performing top 100 cryptos
On June 10, 2024, the largest meme coins are experiencing losses, with all of them displaying negative figures in a relatively stable crypto market. Among these top 100 cryptocurrencies, “Based Brett” (BRETT) stands out as the only one that dropped by over 10% overnight on Coinbase’s Base platform, which markets it as “Pepe’s friend.”
Brett experienced a loss of 10.2% within the past 24 hours. Meanwhile, Floki has declined by 5.2%. According to CoinGecko’s data, The Graph is very near to surpassing Floki as the crypto with a market capitalization ranking of 50th.
As a crypto investor, I’ve noticed that Bonk (BONK), the highly anticipated meme coin built on Solana (SOL), has experienced a 4.3% decline in value today. Meanwhile, Dogecoin (DOGE) and Shiba Inu (SHIB), two other popular meme coins, have both dropped approximately 1%. These drops are relatively close to the overall market benchmark for today’s cryptocurrency trading.
As a market analyst, I’ve noticed an intriguing development in the crypto space recently. While BASE has been making headlines for surpassing OP Mainnet in terms of Total Value Locked (TVL), certain meme coins within the BASE ecosystem have experienced remarkable price rallies.
In a remarkable surge, the value of ChompCoin (CHOMP) increased by more than 40% within a single day. On the other hand, Basenji (BENJI) experienced a gain of around 14%, marking a significant step towards reaching a market capitalization of $90 million for the very first time.
AI coins under pressure as well
In total, the category of Base meme coins added 12.1% overnight, CoinGecko data shows.
The market for AI-focused cryptocurrencies is currently underperforming, with declining interest leading to significant losses in their market value.
The leading artificial intelligence (AI) cryptocurrencies, Fetch.AI (FET) and Oraichain (ORAI), have both decreased by approximately 2.6%, while Singularity.NET (AGIX), which is associated with Cardano, has experienced a larger loss of around 4%.
Bitcoin (BTC) is changing hands at $69,510, up by 0.8% in 24 hours.
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2024-06-10 18:35