Memecoins underperform the wider crypto market after double-digit weekly losses surpass the sell-off in BTC and ETH.
Dogecoin (DOGE), Shiba Inu (SHIB) and Dogwifhat (WIF) corrected sharply as the entire cryptocurrency market sold-off on Aug. 2.
Data from CoinMarketCap shows that the total market capitalization of memecoins has dropped in the last 10 days, falling 21.5% from $54.70 billion on July 22 to $42.91 billion on Aug. 2.
The total daily trading volume across the memecoin sector has dropped by 21% over the same period.
