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Dog-themed memecoins are recording huge losses this week as daily outflows enter double digits. The corrections in the market have led to reduced crypto asset performance this week.&nbsp;
On-chain data shows a decline in memecoins prices, trading volume, and overall figures. The total <a href="https://coingape.com/meme-coin/" target="_blank" rel="noopener noreferrer nofollow">memecoin</a> market capitalization stands at $47 billion, a 9.9% decline in the last 24 hours. Meanwhile, Dog-themed memecoins have seen an 11% drop today reducing their market cap to $39.2 billion.&nbsp;
As memecoins fall due to market and macroeconomic factors, some analysts say a rise might be imminent and spurred by the next bull run post-halving.
<h2 id="span-style-font-weight-400-strong-double-digit-losses-for-dog-themed-memecoins-strong-span">Double Digit Losses for Dog-Themed Memecoins&nbsp;</h2>
Dogecoin (DOGE) is down 6.2% today trading at $0.13 after posting outflows. Weekly figures encapsulate the asset’s recent trend after recording 17.9%&nbsp; weekly exits. This massive wipeout of parts of the market cap is seen across dog-themed memecoins.
<img decoding="async" class="aligncenter size-full wp-image-194530" src="https://coingape.com/wp-content/uploads/2024/05/DOGE_1D_graph_coinmarketcap-3.jpeg" alt="" width="1200" height="800" srcset="https://coingape.com/wp-content/uploads/2024/05/DOGE_1D_graph_coinmarketcap-3.jpeg 1200w, https://coingape.com/wp-content/uploads/2024/05/DOGE_1D_graph_coinmarketcap-3-300x200.jpeg 300w, https://coingape.com/wp-content/uploads/2024/05/DOGE_1D_graph_coinmarketcap-3-768x512.jpeg 768w, https://coingape.com/wp-content/uploads/2024/05/DOGE_1D_graph_coinmarketcap-3-150x100.jpeg 150w, https://coingape.com/wp-content/uploads/2024/05/DOGE_1D_graph_coinmarketcap-3-272x182.jpeg 272w" sizes="(max-width: 1200px) 100vw, 1200px">
Shiba Inu (<a rel="noopener noreferrer nofollow" href="https://www.coingecko.com/en/coins/shiba-inu" target="_blank">SHIB</a>) saw similar levels of outflows with a 6% daily decrease and 18.8% weekly losses. SHIB’s monthly losses increased to 28.9% amid wider sell-offs in the memecoin market. The asset’s trading volume has fallen to $668 million signaling weak sentiments from investors.
Solana memecoin dogwifhat is down 9% today and 22% decline in the last seven days. Floki (FLOKI), CorgiAI, and MYRO have declined 24%, 18.4%, and 31.7% this week as values plummet across the board.
<h2 id="span-style-font-weight-400-strong-is-a-rebound-on-the-cards-strong-span">Is a Rebound On The Cards?&nbsp;</h2>
Memecoins are known for their volatility in the market as their prices soar with improved sentiment and a rebound of crypto assets. Dog-themed memecoins are a top category with many high-ranking tokens. A surge in crypto numbers will boost the performance of these assets.&nbsp;
Crypto traders look towards the <a href="https://coingape.com/halving/bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin halving</a> to spark the next bull run in the market. However crypto prices have fallen below pre-Bitcoin halving figures leading to massive liquidations. Bitcoin currently trades $59,924 alongside a drop in Ethereum and other altcoins.
Also Read:<a href="https://coingape.com/trending/4-new-cryptocurrencies-you-should-watch-out-in-may/" target="_blank" rel="noopener noreferrer nofollow"> 4 New Cryptocurrencies You Should Watch Out InMay</a>&nbsp;
The post <a href="https://coingape.com/trending/will-dog-themed-memecoins-rebound-after-11-plunge/" rel="noopener noreferrer nofollow">Will Dog-Themed Memecoins Rebound After 11% Plunge?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Will Dog-Themed Memecoins Rebound After 11% Plunge?

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