- Dogecoin and Shiba Inu see mixed performance with recent gains but monthly declines.
- Floki and PEPE show high bearish volatility with recent performance, though they maintain a massive annual increase.
- Many analysts remain bullish on these meme coins despite recent price performance
The meme coin market has been on a wild ride lately, with Dogecoin (DOGE), Shiba Inu (SHIB), Floki (FLOKI), and Pepe (PEPE) experiencing significant price swings. While some have managed to maintain moderate gains in recent days, others are facing steep declines.
Dogecoin and Shiba Inu, the two largest meme coins by market capitalization, have seen moderate price movements in recent months. Over the last 24 hours, Dogecoin rose by 1.9%, currently trading at $0.09697. This gain has been sustained over the past week, with a similar percentage growth.
However, Dogecoin experienced a 6.6% drop over the past month. Yet, over the past year, it has gained 53.1%, reflecting a mixed performance in both the short and long term.
Shiba Inu has displayed a pattern similar to that of Dogecoin. SHIB’s price increased by 1.3% in the last 24 hours and is currently trading at $0.00001309. However, it has declined by 1.1% over the past week.
The token also declined by 12.1% over the past two weeks and 6.3% over the last month. Nevertheless, it has gained 72.4% over the past year. Regardless of recent price performance, many analysts remain bullish on these meme coins.
Performance of Other Meme Coins
Floki (FLOKI) has been particularly volatile over the past month. In the last 24 hours, the token saw a minor rise of 1.4%, currently trading at $0.0001222. Its price increased by 3.9% over the past week, indicating short-term bullish sentiment among traders.
However, the coin has dipped by 20.1% over the past two weeks. On a monthly basis, FLOKI decreased by 3.1%, but it recorded a year-over-year increase of 600.1%.
Likewise, Pepe (PEPE) has had a volatile week. Currently trading at $0.000007034, Pepe has seen a 2.8% gain over the past 24 hours but showed a weekly decline of 2.7%.
Its decline began earlier than a week ago; Pepe’s price dropped by 15.8% over the past month, although it has risen significantly by 795.5% over the past year. The year-over-year upsurge and recent declines indicate heightened uncertainty and fluctuating investor interest.
Meme coins continue to capture attention in the crypto market due to their high volatility and potential for quick gains. However, the price movements of these tokens suggest that investors may remain cautious, especially as the broader crypto market experiences downtime.
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