As a researcher with a background in cryptocurrency and market analysis, I’ve seen my fair share of price crashes and market downturns. The recent decline in Bitcoin’s price and the subsequent liquidations of leveraged traders is not an uncommon occurrence in this space. However, the significant losses suffered by meme coins like Dogwifhat (WIF), BRETT, and Notcoin (NOT) in the past few days are worth taking a closer look at.
Today, Bitcoin‘s value plummeted towards $62,000, triggering significant margin call sell-offs among traders with leveraged positions. This downturn transpired during a wider market slump, in which most alternative cryptocurrencies experienced substantial price drops as well.
As a researcher studying the cryptocurrency market, I’ve observed some notable price changes over the past day. Ethereum has seen a decline of approximately 3.7%, causing it to dip below the $3,400 mark. In contrast, Binance Coin (BNB) experienced a drop of around 3.3%. However, the biggest loser in this period was Solana, which suffered a significant setback of 6.9%.
Three particularly popular cryptocurrencies have experienced significant downturns in the past 24 hours, making it prudent to keep a close eye on their progress.
Dogwifhat (WIF)
As an analyst, I would express it this way: In the beginning of 2024, I witnessed an astonishing rise in the value of Dogwifhat. Its market capitalization grew from a negligible amount to an impressive $4 billion. Reaching its peak in April, Dogwifhat’s price per share hit approximately $460, resulting in a total market worth of $4.6 billion.
Things haven’t been looking very well for the popular meme coin since then, though.
The Women in Finance index (WIF) has experienced a significant decline of around 70% from its peak, leaving some observers questioning whether its impressive growth phase has come to an end.
Over the past day, WIF experienced a significant decrease, almost 14%, causing it to slip out of the top 50 cryptocurrencies based on total market capitalization. This decline adds up to approximately 37% in losses over the last week, 43% within the last fortnight, and 46% in the past month.
If there’s one thing that’s currently looking good about WIF, it must be that the hat is still on.
BRETT (BRETT)
As a researcher studying the dynamic world of cryptocurrencies, I’ve noticed an intriguing newcomer making waves in March – BRETT. Its rapid rise to prominence within the crypto community was nothing short of astonishing.
Earlier in June, the cryptocurrency reached its peak price at approximately $0.18, marking a new record high. Unfortunately, over the last day, its value has dropped significantly by nearly 13%.
From a broader perspective, I’ve experienced a setback with BRETT, losing approximately 25% of its value over the past fortnight. Nevertheless, this dip doesn’t diminish the impressive gain of around 130% that I’ve enjoyed in the last month.
Keep an eye on this meme coin’s development to see if it will imitate the path of Dogecoin (WIF) and potentially dip further into a bear market.
Notcoin (NOT)
Notcoin plunged by 13% in the past day, bringing its total weekly losses to about 26%.
It’s essential to note that NOT functions as both a meme token and a gaming token, operating on the TON blockchain, and is integrated into a gamified Telegram system.
As a crypto investor, I’ve noticed an impressive surge in the value of a particular digital currency I’ve invested in. This coin made its debut via Binance’s Launchpool within the last month, and since then, it has skyrocketed by an astounding 171%.
These three cryptocurrencies share a distinctive trait: they have gained significant popularity as memes within the crypto community. Consequently, their price movements are notably more erratic than those of standard altcoins. It’s intriguing to observe whether they will bounce back from these sharp and sudden drops.
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2024-06-24 11:24