Meme Coin Market Faces Double-Digit Losses to Begin the Week

The cryptocurrency market has been struggling over the past a number of months. That seems to have crescendoed for the altcoin sector as Dogecoin and the opposite high 5 meme cash had been down double digits on Sunday. That had continued heading into Monday, with a slight correction happening.

Dogecoin (DOGE) and the opposite high 5 meme cash had been up double digits on Sunday, however a number of the good points had been worn off heading into Monday. Two of the highest 5 meme cash had turned adverse once more.

The cryptocurrency market has been struggling for a number of months now. That appears to have hit a crescendo for the altcoin sector on Sunday. Most of the meme cash had dropped double digits in worth on Sunday. That had continued heading into Monday, however a slight correction occurred.

DOGE, the main meme coin by market capitalization, had declined greater than 10% with SHIB dropping 11% to finish the weekend. Moreover, Dogwifhat (WIF) and Bonk had dropped greater than 15% and 10%, respectively. The largest losses had been seen by Pepe, which fell greater than 17% in worth about 12 hours in the past.

However, these losses had been trimmed considerably on Monday. SHIB and DOGE had turned inexperienced once more, whereas WIF and Bonk had narrowed their losses. Pepe was the one meme coin within the high 5 that remained in double-digit losses.

DOGE and SHIB have turned inexperienced to begin the week, with the latter up greater than 4%. Shiba Inu noticed its worth rise on Monday as soon as once more. SHIB started the July 4th weekend buying and selling at $0.0000114. It closed the weekend up 4.44%, buying and selling at $0.000012.

The main meme coin noticed its worth drop beneath $0.10 final week because of the meme coin hype displaying indicators of cooling off. However, SHIB managed to keep away from any main losses regardless of Dogecoin’s difficulties.

Shiba Inu’s good points got here because the meme coin noticed its complete liquidation attain $5.2 million. Moreover, SHIB open curiosity fell to its lowest ranges in 2024. At the moment, that determine was $2.51 billion.

Despite its difficulties, DOGE managed to carry the essential $0.10 stage. However, the meme coin has dropped greater than 24% over the past 30 days.

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