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Major meme cryptocurrencies are underperforming today. Ninety percent of top meme coins are in red, while the majority of them are posting double-digit losses. However, two dog-coins from the top 200 cryptos by market cap managed to surge even against such a painful background.
"PEPE's best friend," BRETT, among the worst performing cryptos today
Today, June 24, 2024, Based Brett (BRETT), one of the largest meme coins on the Base (BASE) blockchain, is down by 9.4%. As such, it is a fourth worst performing crypto in the top 100. It only managed to outperform Ordi (ORDI) and Notcoin (NOT), while Uniswap (UNI) registers similar losses.
Based Brett (BRETT) is close to losing the $1.3 billion market cap level. Other major meme coins are also under pressure today.
Shiba Inu (SHIB) and Pepe (PEPE) are down by 5.2-5.3%. Meanwhile, the market benchmark for cryptocurrency segment is 4% today.
Dogecoin (DOGE) lost 4.1%, while other largest meme cryptos Bonk (BONK) and Floki (FLOKI) are also in the red but are slightly outdoing the market average.
In total, the segment of meme cryptos lost 5% in the last 24 hours, CoinGecko data says.
Dogwifhat (WIF), Mog Coin (MOG) in green despite painful start of week for crypto
At the same time, two large meme coins managed to post minor gains despite market hostility. Dogwifhat (WIF), a major Solana meme cryptocurrency, added 1.1%, while Mog Coin (MOG) is up by 4% on Ethereum (ETH) and Base (BASE) platforms.
As the cryptocurrency market sees over $300 million erased in shorts and longs due to liquidations in the last 24 hours, meme coins are also among the worst affected by the dropdown.
DOGE and PEPE traders lost over $7.5 million, while ConstituitionDAO (PEOPLE) and Dogwifhat (WIF) are also on the list of the 10 most affected cryptos, CoinGlass data shows.
Bitcoin (BTC) is down by 4.8%, while Ethereum (ETH) lost 5.5% on the news of the multi-billion Mt. Gox compensation plan and geopolitical tensions.