Top 3 Memecoins for Selling This Week

Last updated: 04/08/2024 17:28

Memecoins are under selling pressure, much like the broader market, as they decline from their highs from prior weeks.

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This week, the cryptocurrency market has moved in a sideways manner as systemic stress is increased by macroeconomic issues and mood has declined across the board. This week, top assets, AI tokens, tokens with a dog theme, and Solana memecoins all saw significant losses in value relative to memecoins.

Some assets have experienced a surge in value over the past day notwithstanding withdrawals, leading to a minor increase in pricing. As of the time of writing, the market capitalization of memecoin is $60.4 billion, down 1.3% over the previous day.

Several users are checking their assets before a drop, according to a recorded increase and recent outflows. In preparation for a bear market, here are three memecoins to unload.

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Cat in a dogs world (MEW)

This year, MEW has become more popular after the memecoin mania caused a boost in assets and a surge in inflows. Despite a 30% drop over the previous few days, MEW is up 13% today. The market mood around memecoins has been deteriorating, which has led to the weakened form.

Although the asset’s 24-hour volume is up at $88.8 million, multiple observers are of the opinion that memecoin volatility could impact the asset. The top memecoins saw losses of up to 40% last week as a result of broader market condition.

Dogecoin (DOGE)

Since the market as a whole has been experiencing outflows, market watchers are concerned about the DOGE weekly data. According to on-chain data, Dogecoin has seen a 4% increase over the past 24 hours and a 12% decrease over the past week. The decline in the past week has reduced the monthly gain to 11%. Even though it’s the most popular memecoin, the token might still lose value if market sentiment turns negative.

Degen (BASE)

When it comes to memecoins, Degen has been one of the most reliable performers so far this year. This asset has gained 8% so far this week and 9.3% in the past 24 hours. Its gains from last month’s stellar results have been eroded by outflows, even as prices have soared.

There was a 310% increase in 14 days and a 1,659% increase in 30 days for the asset. A more negative outlook, according to most bears, could compound the dwindling momentum and further increase losses.

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Look more:

How to Trade Crypto Futures Contracts on BTCC

How to Buy and Deposit Crypto on BTCC?

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