Leading meme coins are underperforming; will Dogecoin manage to stage comeback?
provided by CoinGecko, Shiba Inu and Dogecoin are among the top laggards among leading cryptocurrencies. The two meme coins are down 3.5% and 2.5%, respectively.
For comparison, Bitcoin is down 0.9% over the same period of time. Some other major cryptocurrencies, such as XRP, are currently in the green.45.6 Million XRP Withdrawal Stuns Largest Crypto Exchange BinanceBonk and Brett have also slipped by more than 5%. Pepe and Floki Inu are down 3.1% and 4.9%, respectively.Even though blue-chip meme coins are underperforming right now, they are still doing just fine compared to celebrity meme coins.
After seeing their prices surge in June and attracting plenty of headlines, the prices of most celebrity-themed tokens ended up crashing by more than 90%. Iggy Azalea's MOTHER token is down more than 70%.that Dogecoin tends to have a rally after a period of consolidation. The analyst stated that he was buying more DOGE, implying that he anticipates the same scenario will play out this time around.
DOGE is up as much as 14% over the past two weeks. However, the leading meme coin is still down 82.2% from its record high that was achieved during the 2021 bull run.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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