4 Meme Coin Losers of the Week

During the week, as the global financial markets faced turbulence, the cryptocurrency scene also saw uncertainty, with major altcoins also experiencing both highs and lows. Popular memecoins such as Dogecoin, PEPE and Shiba Inu, have also found themselves in the red zone. Amidst the chaos, the overall market cap of memecoins decreased by around 2% to $53 billion today. This article will explore the performances of four meme coin losers of the past week.

1. Moutai (MOUTAI)

Moutai went through a turbulent week, with its price fluctuating significantly, topping the list of memecoin losers. The meme coin experienced a 9.07% drop in value in the last day, following a bearish trend in the past week, with a 36% decrease.

As of today, it is priced at $0.01827, with a total market value of $12.73 million. MOUTAI saw a decreased trading volume of 17.13% to reach $436.2 million in the past 24 hours, with a circulating supply of 23,964,417 MOUTAI tokens.

Moitai token created as a tribute to China’s top liquor brand, MOUTAI, with a fan club dedicated to bridging East and West. It’s not for promoting alcohol consumption, but for building a community around the Kissinger philosophy of problem-solving through MOUTAI.

2. Degen (DEGEN)

Over the last week, Degen has sustained challenges, experiencing a 3.54% price drop in the past day. The past week’s market turbulence did not spare memecoin, which saw a decline of 33.8% in value.

Currently, Degen is trading at $0.01334, with a total market cap of $189,194,896. The token’s trading volume was $26.98 million in the past 24 hours, with a circulating supply of 2,019,798,885 DEGEN.

Degen originated as a reward token in the Farcaster Degen channel, evolving from a meme coin to attract developers, crypto enthusiasts, and content creators.

Launched in January 2024 as an ERC-20 token, it transforms content into currency within the Farcaster ecosystem, incentivizing quality contributions through rewards and bridging online efforts with tangible value.

3. TokenFi (TOKEN)

TokenFi experienced 33% in losses over the past week, and 6.18% over the past day. Nevertheless, it saw a reduction in market capitalization similar to other memecoins. Currently, TokenFi is valued at $0.09636, holding a market cap of $96,357,944. The memecoin is trading volume reached $18.6 million in the past 24 hours, while the circulating supply was 193,202,692 TOKEN.

TokenFi, launched by the experienced Floki team, aims to simplify crypto and asset tokenization to become the leading platform globally. With the tokenization industry projected to reach $16 trillion by 2030, they claim that major investor BlackRock sees it as the next market evolution.

Leveraging their success with the Floki token, valued at $3.5 billion, TokenFi is set to dominate the tokenization industry.

4. PUPS (Ordinals) (PUPS)

Round our list of memecoin losers list is PUMPS ,recording losses of 31.08% in the past 7 days. This bearish trend was experienced with a 4.35% drop in the value over the past day. Trading at $12.83 today, PUPS has a market cap of $99,.65 million.

The last 24 hours saw $1.9 million worth of PUPS being traded, with 150,880 PUPS in circulation.

PUPS is a memecoin featuring cute pixel pups on the Bitcoin blockchain. The digital art is permanently recorded using Ordinals protocol, which assigns a unique identifier to the data and attaches it to a Bitcoin transaction. This allows the data to be stored permanently and viewed by the public.

Conclusion

Despite their individual performances, all these meme coin losers of the week faced challenges amid the broader market crash, reflecting the volatility and uncertainty prevailing in the cryptocurrency market. Investors should closely monitor these trends and exercise caution in their investment decisions.

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