SHIB, WIF, BRETT: Top Meme Coins Losing Steam in Last Days of 2024

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As a seasoned crypto investor with a decade of experience under my belt, I’ve seen my fair share of market fluctuations and meme coin mania. Today, Dec 30, 2024, the meme coin segment is taking a hit, losing approximately 5% of its market cap in 24 hours. While this might seem disheartening to some, I’ve learned that these dips often pave the way for impressive gains later on.

Looking at the top performers, it’s clear that Brett is struggling more than the others. On the other hand, newcomers like PENGU and AI16Z are making waves, with PENGU already outperforming established coins like WIF and FLOKI. It seems that the meme coin community has a soft spot for penguins and AI!

Now, let’s not forget about the ever-resilient Dogecoin (DOGE) and Floki Inu (FLOKI), which have shown strong recovery impulses in the last week. They may be the old dogs, but they certainly know a few new tricks!

As always, it’s essential to remember that investing in meme coins is like playing with pudgy penguins – it can be fun and exciting, but it requires a keen eye and a steady hand. So, let’s keep our eyes on these newcomers and see if they can waddle their way into the top league!

Oh, and as for my personal strategy, I always say, “When in doubt, flip a coin… or invest in a meme coin!” After all, who knew that a Shiba Inu would lead us to such fortune?

Currently, the broader cryptocurrency market is experiencing a gentle downturn, yet this dip seems to have affected the meme cryptocurrencies more significantly. In comparison to the overall market trend, their daily performance appears relatively poor. However, the arrival of enthusiastic newcomers offers a glimmer of hope.

Meme coins lost 5% of market cap in 24 hours

Today, December 30, 2024, the meme cryptocurrency sector is experiencing a significant drop. The collective market capitalization of these coins has fallen by approximately 5%. As per CoinGecko’s tracker, the total market cap for meme cryptos now stands below $105 billion. In contrast, the broader market index saw a decline of only 4.6% in this timeframe.

In the last few days, the top ten popular meme cryptocurrencies have been offering conflicting messages to their community. On a day-to-day basis, they’ve all shown a decline (red), but when we look at their weekly progress, the story changes significantly.

Brett (BRETT) has the poorest performance among the top tier, experiencing a decline of 4.8% over seven days. On the other hand, Shiba Inu (SHIB), boasting the largest meme coin community, has dropped by 2.2%. The token associated with the Shib Army has fallen out of the top 15 cryptocurrencies ranked by market capitalization.

On the Solana blockchain, the highly anticipated meme token Dogwifhat (WIF), has seen a decrease, shedding approximately 1.9% of its market value overnight. Meanwhile, Mog Coin (MOG) has also dipped by 2% in the same period.

Pepe (PEPE) and Bonk (BONK), notable meme tokens, have maintained a positive trend but saw gains of less than 1% over the past seven days.

Top 100 newcomers PENGU, AI16Z outperform majors

Over the past week, Dogecoin (DOGE) and Floki Inu (FLOKI) have shown a more robust resurgence, gaining 1.4% and 3.7% respectively.

Simultaneously, new entrants are garnering attention within the meme coin enthusiast circle. PENGU, the official meme coin associated with the Pudgy Penguins NFT collection, has surged by more than 15%. Remarkably, this token is already larger than WIF and FLOKI, even though it’s still in its early stages.

As a researcher, I’ve noticed an intriguing development with AI16Z, a meme coin overseen by autonomous AI agents within a DAO. In just a week, its value has more than doubled, skyrocketing by a staggering 125%. This surge catapulted it into the ranks of the top 100 cryptocurrencies. It’s fascinating to see the impact of autonomous AI in shaping the crypto market!

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2024-12-30 19:38