Almost all meme cryptocurrencies from the top 100 are losing value today amid a lackadaisical market. Popcat (POPCAT), despite the support of veteran crypto investor Murad Mahmudov, is the fifth-worst performer today, reporting significant losses.
Popcat (POPCAT), Dogwifhat (WIF) among the worst performers
Today, October 9, 2024, the prices of meme cryptocurrencies are plummeting. Popcat (POPCAT), the largest cat-themed cryptocurrency, fell 5.9%. Its capitalization fell below $1.2 billion in the last 24 hours due to low trading volume.
Popcat (POPCAT) is among the top meme coins highlighted by trader Murad Mahmudov, who excited the global crypto community with his thesis on the “meme coin cycle” at TOKEN 2049 in Singapore. This is why the token is still up 15% over a seven-day period.
Dogwifhat (WIF), the dominant Solana (SOL) meme cryptocurrency, also disappointed investors with its price falling 5.5% overnight.
Bulls Dogwifhat (WIF) and Popcat (POPCAT) are taking losses in the cryptocurrency derivatives markets, according to data from CoinGlass.
Of the $3.4 million in positions wiped across both cryptocurrencies, the vast majority were long in the last 24 hours.
It should be noted that other major meme coins are also in the red today. Shares of Floki (FLOKI), Bonk (BONK) and Based Brett (BRETT) are down 3-4%.
Dogecoin (DOGE) Becomes the Only Prominent Meme Coin
Shiba Inu (SHIB) was less affected by the price drop today, with a price drop of just 1.5%. However, Dogecoin (DOGE), the largest meme coin, is the only cryptocurrency in the segment that is showing positive dynamics today.
Over the past 24 hours, the price of Dogecoin (DOGE) has gained 1.3%, and its capitalization has again reached $16 billion.
The crypto market benchmark fell by 2.5% today. Bitcoin (BTC) lost 1.5% of its value, while Ethereum (ETH) fell 0.2%.
