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Almost all meme cryptocurrencies in the top 100 are losing value today amid an apathetic market. Popcat (POPCAT), despite being supported by crypto investing veteran Murad Mahmudov, is the fifth worst performer today, posting substantial losses.
Popcat (POPCAT), Dogwifhat (WIF) on list of worst performers
Today, Oct. 9, 2024, meme crypto prices are plummeting. Popcat (POPCAT), the largest cat-themed crypto, is down by 5.9%. Its capitalization dipped below $1.2 billion in the last 24 hours on low trading volume.
Popcat (POPCAT) is among the top meme coins highlighted by trader Murad Mahmudov, who excited the global crypto community with his thesis on the "meme coin cycle" at TOKEN 2049 in Singapore. That is why the token is still up by 15% on the seven-day time frame.
Dogwifhat (WIF), a dominant Solana (SOL) meme cryptocurrency, also disappointed investors with a 5.5% price drop overnight.
According to CoinGlass data, both Dogwifhat (WIF) and Popcat (POPCAT) bulls are facing losses on cryptocurrency deivatives markets.
Out of $3.4 million in erased positions for both cryptocurrencies, the vast majority are longs in the last 24 hours.
It should be noted that other big meme coins are also in the red today. Floki (FLOKI), Bonk (BONK) and Based Brett (BRETT) are down by 3-4%.
Dogecoin (DOGE) becomes only outstanding meme coin
Shiba Inu (SHIB) is less affected by the price plunge today, with only a tiny 1.5% price drop. However, Dogecoin (DOGE), the largest meme coin, is the only crypto in the segment that is seeing positive dynamics today.
In the last 24 hours, the Dogecoin (DOGE) price added 1.3%, while its capitalization is yet again targeting the $16 billion mark.
The benchmark of the crypto market is down by 2.5% today. Bitcoin (BTC) lost 1.5% of its valuation, while Ethereum (ETH) is down 0.2%.