Major memecoins are down 63% on average despite market frenzy
The top 10 memecoins are struggling as safe-launch tokens capture significant market attention and investor funds.
The memecoin market witnessed explosive growth in 2024, but its biggest players — including Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) and Dogwifhat (WIF) — are struggling to hold value anywhere near their yearly highs.
It’s not just top memecoins that are faltering. Numerous industry insiders have told Cointelegraph the current wave of tokens is having knock-on effects across the industry, with one saying memecoins have “sucked the life out of this bull run.”
Data released by Lookonchain on Sept. 2 revealed just how tough the market is for the incumbent pack of memecoins, which are down an average of 63%.
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Author: Robert D. Knight
