Floki Inu Struggles to Stay in Top 50 Amid Market Slowdown

  • The cryptocurrency segment is showing a lackluster performance, with meme coins being among the worst affected.
  • AI-focused cryptocurrencies are also under pressure, shedding market value as interest wanes.
  • Among the meme coins, Floki Inu (FLOKI) is particularly close to dropping out of the top 50 digital assets by market capitalization.

Explore the current state of meme and AI cryptocurrencies as they navigate a challenging market landscape, with key details on their recent performance.

BRETT, FLOKI, BONK among Worst Performing Top 100 Cryptos

As of June 10, 2024, meme coins are experiencing significant downturns despite a relatively stable overall cryptocurrency market. “Based Brett” (BRETT), a key meme coin on Coinbase’s Base, marketed as “Pepe’s friend on Base,” stands out by losing more than 10% overnight, making it the only top 100 cryptocurrency with such a sharp decline.

In a 24-hour span, Based Brett (BRETT) saw a 10.2% drop. Floki (FLOKI) declined by 5.2%, putting it at risk of being overtaken by The Graph (GRT) in terms of market cap, potentially knocking it out of the top 50 cryptocurrencies.

Bonk (BONK), another heavily promoted meme coin on the Solana (SOL) platform, recorded a 4.3% loss. In comparison, other well-known meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) both experienced minor declines of around 1%, aligning with today’s market benchmark.

While meme coins on the Base network expanded their rallies, Base (BASE) itself has surpassed OP Mainnet in total value locked (TVL). ChompCoin (CHOMP) surged by over 40% in a single day, while Basenji (BENJI) appreciated by 14%, aiming for a $90 million valuation milestone.

AI Coins Under Pressure as Well

Overall, Base meme coins collectively increased by 12.1% overnight, according to CoinGecko data. However, the sector of AI-focused cryptocurrencies is struggling. With diminishing interest in AI cryptos, these assets are witnessing a decline in market capitalization.

Fetch.AI (FET), a leading AI coin, fell by 2.6%, mirroring a similar drop by its competitor, Oraichain (ORAI). Cardano-associated AI protocol Singularity.NET (AGIX) faced a 4% loss.

On the other hand, Bitcoin (BTC) traded at $69,510, marking a 0.8% increase over the last 24 hours.

Conclusion

In summary, the cryptocurrency market continues to exhibit volatility, with meme and AI cryptocurrencies facing notable challenges. As meme coins struggle to maintain their standings, and AI tokens grapple with waning interest, investors must remain vigilant and informed to navigate these unpredictable waters.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Whale Alert: Major Dogwifhat (WIF) Token Sale Rocks Solana Ecosystem

A prominent whale in the Solana ecosystem...

Bitcoin’s IFP Breakout Signals Potential Bull Run Above 90-Day Average

Bitcoin's Inter Exchange Flow Pulse (IFP) is...

Shiba Inu (SHIB) Poised for Bullish Reversal Despite Recent 12% Drop

Shiba Inu (SHIB), known for its meme...

Rebel Satoshi (RECQ) Defies Market Volatility Amid Notcoin and zkSync Downturns

The cryptocurrency market's inherent volatility has once...

Dogecoin (DOGE) and Shiba Inu (SHIB) Lead Memecoin Market Recovery

The top memecoins like Dogecoin (DOGE) and...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Comprehensive Guide to MDX Coin: Features, Usage, and Price Analysis

MDEX platform operates across various blockchain networks...

Bitcoin and Altcoin Market Overview: June 22nd Analysis

Crypto market insights: An overview for June...

Dogecoin ($DOGE) vs Shiba Inu ($SHIB): 2024 Market Analysis and Investment Outlook

The competition between Dogecoin ($DOGE)...
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Whale Alert: Major Dogwifhat (WIF) Token Sale Rocks Solana Ecosystem

A prominent whale in the Solana ecosystem might be liquidating a significant amount of a memecoin. Over the past two days,...

Bitcoin’s IFP Breakout Signals Potential Bull Run Above 90-Day Average

Bitcoin's Inter Exchange Flow Pulse (IFP) is garnering attention as a potential indicator of future market movements. Historically, shifts in the...

Shiba Inu (SHIB) Poised for Bullish Reversal Despite Recent 12% Drop

Shiba Inu (SHIB), known for its meme coin status, has recently faced a 12% decline, bringing its value to $0.00001795 this week. ...