As an experienced analyst, I’ve closely monitored the meme coin market over the past few months, and these recent price movements of Shiba Inu (SHIB), Dogecoin (DOGE), Pepe (PEPE), Brett (BRETT), and Dogwifhat (WIF) have piqued my interest.
In the past day, there have been noticeable increases in the values of certain popular meme tokens among large-cap stocks, such as Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE).
According to data from the cryptocurrency tracking platform CoinGecko, the total value of the meme coin market has increased by 2.4%, amounting to approximately $44.75 billion.
As a researcher studying the cryptocurrency market, I’ve noticed an impressive 6.4% increase in the value of Shiba Inu over the past 24 hours.
During that period, the value of the meme coin fluctuated between $0.00001596 and $0.0000171, reaching a current price of $0.00001698. The surge was accompanied by significant trading activity totaling $217.8 million within the last 24 hours.
Shiba Inu’s price experienced a weekly increase of almost 7%, despite a minor 0.8% decrease during the last two weeks. The downturn continued over the past month, with the cryptocurrency shedding approximately 21% of its value in that time frame.
In the past 24 hours, Brett (BRETT) stands out amongst meme coins with a noteworthy gain of 5.1%.
Among all cryptocurrencies, Brett holds the 72nd spot in market capitalization, while it ranks 7th among meme coins. The digital currency has experienced a challenging month, with over 22% of its value being erased.
The slide for the meme coin began not long after it reached its peak price of $0.1933, or its all-time high (ATH), on June 9. For the most part, it maintained a position above the $0.15 mark until July 4, at which point it dropped as low as $0.1079.
The price now remains 40% below its all-time high (ATH), but it’s an impressive 13,564% above its previous lowest price recorded this year.
WIF and PEPE have experienced a 4% increase over the past 24 hours. Although they faced challenges in the last month, with WIF‘s price dropping by 36.8% and PEPE’s by 30%.
In the previous week, WIF experienced a decline of 19.2%, whereas PEPE saw a decrease of 4.5%. However, these two cryptocurrencies fell short compared to the 2.6% rise in the overall global crypto market.
Based on data from CoinGecko, PEPE performed poorly compared to other cryptocurrencies in the Ethereum ecosystem, which have risen by 12.70% in total.
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2024-07-13 17:36