The Gist
- SHIB tumbled to a four-month low, but there’s a ray of hope. 🌈
- It’s a bloodbath in meme coins today (February 3), with WIF, BONK, FLOKI, and others sinking like stones. 🪨
Just a Temporary Correction?
Last 24 hours – absolute mayhem in the crypto zoo. Digital pets everywhere are bleeding. Bitcoin (BTC) took a nosedive below $92,000, but it’s the altcoins that really face-planted. Ouch. 🤕
Shiba Inu (SHIB) especially got its tail handed to it, crashing to $0.00001284 – the lowest point since we were all pretending to keep our New Year’s resolutions. It’s managed to claw its way back a bit to $0.00001443, but that’s still a 17% daily decline. 😬
Despite all this doom and gloom, SHIB’s Relative Strength Index (RSI) – which is a fancy way of saying “buy low, sell high” – suggests this puppy might be making a comeback. The RSI dipped to 16, which usually means, “Hey, buy me! I’m cheap!” 🛒💸
Additionally, the exchange netflow for SHIB turned predominantly negative last week. Translation: People are moving their SHIB to private wallets, which means fewer alarmed traders panic-selling. Paws crossed! 🤞🐾
Meme Coin Meltdown
The meme coin market cap is now about $75 billion, taking a brutal 17% dive in just 24 hours. No kidding. Biggest losers? Pepe (PEPE), Bonk Inu (BONK), Floki (FLOKI), dogwifhat (WIF), and Brett (BRETT). They all dropped more than 20%, which is the crypto version of getting a slap on the snout. 🐶💔
The meme coin darlings of late January – Official Trump (TRUMP) and Melania Meme (MELANIA) – aren’t faring much better. TRUMP slipped out of the top 3, now pouting in 4th place. MELANIA’s market cap, which briefly soared above $2 billion, is now a mere $220 million. Melania, you’re not alone. 😢
But every cloud has a silver lining. Fartcoin (FARTCOIN), AI Rig Complex (ARC), and Elon4AfD (ELON4AFD) are managing to stay in the green, perhaps signaling that not all hope is lost in the wacky world of meme coins. 🎈🌟
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2025-02-03 12:19