On June 24, 2024, most of the major meme cryptocurrencies are losing value. In fact, 90% of the top meme coins are in the red, and most of them are losing more than 10%. Even with this trend, two dog-coins in the top 200 cryptos by market cap have made progress.
A prominent meme coin on the Base (BASE) blockchain called Based Brett (BRETT) has dropped by 9.4%, making it the fourth worst-performing cryptocurrency in the top 100. Only Ordi (ORDI) and Notcoin (NOT) have done better than it. Uniswap (UNI) has also lost value. BRETT’s market value is almost $1.3 billion, and other major meme coins are also in danger of going down.
Meme Coins Face Market Pressure
Shiba Inu (SHIB) and Pepe (PEPE) are down 5.2% to 5.3%, and the benchmark for the whole bitcoin market is down 4% today. Dogecoin (DOGE) has dropped 4.1%, and other popular meme coins like Bonk (BONK) and Floki (FLOKI) are also moving downward, though they are doing slightly better than the market average. CoinGecko statistics shows that the meme crypto segment has lost 5% in the last 24 hours.
Even though the market is bearish, two significant meme coins have made funds. Major Solana meme cryptocurrency Dogwifhat (WIF) has gone up by 1.1%, and Mog Coin (MOG) is up 4% on both Ethereum (ETH) and Base (BASE).
In the last 24 hours, liquidations have erased more than $300 million worth of shorts and longs on the cryptocurrency market. Meme coins have been hit the hardest.
Stats from CoinGlass show that buyers in DOGE and PEPE have lost more than $7.5 million. ConstituitionDAO (PEOPLE) and Dogwifhat (WIF) are also two of the ten most affected cryptocurrencies. Because of news about the multibillion-dollar Mt. Gox settlement plan and political unrest, Bitcoin (BTC) is down 4.8% and Ethereum (ETH) is down 5.5%.
