The post Top 5 Memecoins by Market Cap: $DOGE, $SHIB, $PEPE, $WIF and $FLOKI appeared on BitcoinEthereumNews.com.

This week, a significant market drop saw Bitcoin ($BTC) drop to $58,400, proving that no crypto sector is immune to negative market sentiment. $DOGE, $SHIB, $PEPE, $WIF, and $FLOKI, the top 5 memecoin by market cap, are all down around 5% in the past day.  A widespread market downturn affected all crypto sectors, including the burgeoning memecoin industry. Bitcoin ($BTC) touched a recent low of $58,400 on Monday, June 25, but recovered slightly and now trades at $60,720. Let’s look at the performance of the top five memecoins by market cap.  Dogecoin ($DOGE) Backed by Strong Community Dogecoin ($DOGE), the top memecoin by market cap according to CoinMarketCap, showed its resilience in the recent market dip. The coin, which started as a joke, has become a household name in the crypto industry thanks to a strong community. $DOGE displayed remarkable growth as it transitioned to a legitimate investment opportunity with great utility. Amid the current uncertainty, $DOGE strengthened after recovering 5% from its critical support level of $0.1183. earlier price today. Despite a 4% drop over the 24-hour price chart, $DOGE currently trades at $0.1226.  Shiba Inu ($SHIB) Burn Could Keep the Price Stable Shiba Inu ($SHIB) appeared geared for a joyous day, with a 3% price surge early on Wednesday. Data from TradingView revealed that $SHIB rose from its opening price of $0.00001774 to $0.00001806, sparking talks of a potential price rally. $SHIB has, however, dropped from its early uptick, currently trading at $0.0001731, down 4.40% over the past 24 hours. Users speculate that a recent SHIB burn announcement may have led to its early rally. According to Shibburn, Shiba Inu burned over 11 million SHIB the past day.  PEPE ($PEPE) Continues Bullish Trend Of the top five memecoins, Pepe is the only one that has gained in price…

---

Filed under: News - @ June 28, 2024 2:14 pm