• The meme coin market has recently taken a hit, with most tokens suffering double-digit value drops.
• Individual trading volumes are down across the board, particularly $DOGE, $SHIB, $PEPE and $FLOKI.
• The buzz around the meme coin niche has generally faded away following losses from popular tokens like $PEPE and $WOJAK.
The Meme Coin Craze
The meme coin market is a rapidly growing niche within the cryptocurrency space that has been gaining traction over the past few months. This sector of the crypto universe is home to some of the most popular digital assets today – including Dogecoin ($DOGE), Shiba Inu ($SHIB), PepeCash ($PEPE) and FlokiNET ($FLOKI).
Recent Market Downturn
However, in recent weeks this market has taken a hit with most tokens suffering double-digit value drops. Investors are now looking elsewhere for returns potential given the current state of these coins, as total meme coin trading volume is down by 17% over the past day according to CoinMarketCap data.
Individual trading volumes have also decreased significantly for each token mentioned above – particularly for Dogecoin which seems to be showing signs of reversal at this point in time.
Fading Buzz Around Meme Coins
It appears that meme coins could be following a similar trajectory to major players such as Bitcoin and Ethereum – both of which have experienced losses in recent days dragging their peers along with them. Additionally, there’s been less enthusiasm surrounding these assets lately due to dramatic falls from popular tokens such as PepeCash and WojakCoin leading investors to cash out rather than wait for prices to rebound.
Furthermore, news about freshly minted memecoins hitting exchanges doesn’t seem to be generating much excitement either – while new projects generally spark interest when they first enter markets; this isn’t proving true at present for many newly released altcoins within this sector.
3 Tokens That Could Explode Next
Despite all these negative trends affecting the meme coin market right now, several tokens are still performing well – providing hope for those invested in this sector. Here are 3 tokens that could potentially explode in terms of price next:
- Gorgon($GOR): This token was created by Gorgon Group Ventures and it offers users exposure to entertainment content while also allowing them access into various exclusive experiences.
- Cherry Token($CHERRY): This asset was created by Cherry Media Inc., an online gaming platform with millions of users worldwide.
- Vulcano Token($VOL):