The cryptocurrency sector has been experiencing a significant downturn, instigated by a dip in Bitcoin‘s value. This decline has spread across the market, impacting various digital assets, including Solana. Despite an initial resilience, Solana suffered a substantial drop from $210 to $172. This downturn has also led to varied reactions from meme coins such as Pepe, Floki, and LUNA, which have recently been in the spotlight.
Pepe Coin’s Price Trajectory
Pepe Coin, once a leader in the meme coin surge, showcased a remarkable price increase. Despite a temporary zero deletion, Pepe Coin faced a steep fall, resulting in considerable losses for recent investors. However, early investors from a month ago are still seeing profits. Currently, Pepe Coin has risen by 3.8% over 24 hours and trades at $0.000006994, though it’s down by 14% over the past week. Over the last month, the coin has impressively surged by 481%.
Floki Coin’s Market Performance
Floki Coin, another prominent meme coin, has experienced a less severe drop than Pepe, decreasing by 0.8% and trading at $0.0001864. Floki’s market cap reflects a similar decline to $1.78 billion. Notably, its 24-hour trading volume has spiked by 26.8%, signaling rising investor interest despite the falling price.
Dogecoin Fights Market Sentiment
Dogecoin, leading the meme coin market cap, also faces challenges, having been surpassed by AVAX. Currently positioned 10th in market cap, Dogecoin is trading at $0.1339, with a 6% decline. It has, however, gained 51% in the last month. Despite the price drop, Dogecoin’s trading volume has surged by 57%, exceeding $2.7 billion in the last day. This volume increase might indicate investor buying at lower prices or selling to secure profits.