Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Solana Meme Coins Face Market Headwinds

Solana Meme Coins Face Market Headwinds

CoineditionCoinedition2024/08/19 16:00
By:Anisha Pandey
  • BOME is down 1% in 24 hours and 25.56% in the past 30 days. 
  • BONK is down 2.10% in 24 hours and 36.25% in the past month.
  • WIF is down 1.76% in 24 hours and 43.58% in the past month.

The meme coin sector suffered significant downturn in the recent market crashes and meme coins on leading blockchain network, Solana, continue to bleed as investors remain hesitant from opening positions during these uncertain times. The crypto crash was initiated with leading cryptocurrency Bitcoin (BTC) failing to break above the $60,000 price level, resulting in the crash of meme coins as well. 

The top three most-popular meme coins on the Solana blockchain, dogwifhat (WIF), Bonk (BONK), and BOOK OF MEME (BOME) saw significant losses while the total market cap of the meme coin sector fell 2% to $38.4 billion, and the trading volume of these tokens reached $3 billion. The top-performing meme coin was Sundog (SUNDOG), with a price increase of 77% in the past 24 hours, according to CoinGecko data .

On the other hand, the prices of WIF, BONK, and BOME, all part of the top 10 meme coins by market capitalization, have plunged massively in the past 24 hours, wiping out millions from the digital asset space amid a broader crypto market crash. However, these meme coins are currently testing their support levels and investors can expect a breakout if Bitcoin holds above $58,000 and investors take advantage of the price drop and aim higher. 

As per CoinMarketCap data , in the past 24 hours, WIF is down 1.76% and is trading at $1.37. The meme coin is down 19.47% in the past week and a whopping 43.58% in the past 30 days. However, WIF is also up 718.09% since August 2023. On the other hand, BONK dropped 2.10% and is trading at $0.00001748 with a 10.49% price crash in the past week and 36.25% decline in price in the past 30 days. 

Further, BOME is priced at $0.006686, down almost 1% in the past 24 hours, showing resilience to the selling pressure prevailing in the market. Moreover, the meme coin is up 633.96% since its inception in March 2024. However, BOME is down 4.72% in the past seven days and a massive 25.56% in the past 30 days.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!