Shiba

dogwifhat

BOOK OF MEME

Shiba Inu

Amid the ongoing broader market correction, investor interest in meme coins has significantly declined, hitting some of the most popular tokens the hardest.&nbsp; 
Per market data, BOOK OF MEME (<a href="https://crypto.news/price/book-of-meme/">BOME</a>), dogwifhat (<a href="https://crypto.news/price/dogwifhat/">WIF</a>), and Shiba Inu (<a href="https://crypto.news/price/shiba-inu/">SHIB</a>) have been among the most affected, experiencing severe drops in value over the past year. 
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 Over the past year, the top 10 <a href="https://twitter.com/hashtag/MEMEcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#MEMEcoins</a> have dropped an average of 63.73% from their peak.<a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$DOGE</a>: -57.93%<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$SHIB</a>: -70.86%<a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$PEPE</a>: -58.16%<a href="https://twitter.com/search?q=%24WIF&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$WIF</a>: -70.93%<a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BONK</a>: -64.63%<a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$FLOKI</a>: -65.97%<a href="https://twitter.com/search?q=%24BRETT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BRETT</a>: -62.59%<a href="https://twitter.com/search?q=%24POPCAT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$POPCAT</a>: -43.77%<a href="https://twitter.com/search?q=%24BOME&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$BOME</a>: -79.48%<a href="https://twitter.com/search?q=%24MEW&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$MEW</a>: -62.99% <a href="https://t.co/GzRNI4dYaB" target="_blank" rel="">pic.twitter.com/GzRNI4dYaB</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1830451316042444913?ref_src=twsrc%5Etfw" target="_blank" rel="">September 2, 2024</a>
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Solana-based meme coin BOME has faced one of the steepest <a href="https://crypto.news/bome-falls-14-as-investors-overselling-amid-market-wide-fud/">declines</a>, plummeting nearly 97% from its 52-week high of $0.02805 to a low of $0.000858. Currently trading at $0.005756, BOME has lost about 79% of its value from its peak.&nbsp; 
WIF, another Solana-based meme token, also suffered considerable losses. From a high of $4.85, WIF dropped to just $0.0677, marking a staggering 98.6% decline. Its current price of $1.41 represents a 70.93% decrease from its peak.&nbsp; 
 You might also like: <a href="https://crypto.news/bearish-september-brought-155m-in-cryptocurrency-liquidations/"> Bearish September brought $155m in cryptocurrency liquidations </a> 
Meanwhile, <a href="https://crypto.news/shiba-inu-price-stagnates-as-futures-open-interest-drops/">SHIB</a>, the second-largest meme coin by market cap, has not been spared. It fell from a 52-week high of $0.00004534 to a low of $0.00000688, down 85.25%. Currently changing hands at $0.00001321, SHIB is still down 70.86% from its peak. 
Overall, the meme coin market cap has slumped since reaching a high above $65 billion on May 30. It peaked this year at over $69 billion in early March before dropping alongside the rest of the cryptocurrency market.&nbsp; 
A brief surge to $43.79 billion in late August proved unsustainable. As of now, the meme coin market cap has declined to $38.9 billion, making up 18% of the total global crypto market cap, which stands at $2.12 trillion, according to <a href="https://www.coingecko.com/en/categories/meme-token" target="_blank" rel="">data</a> provided by CoinGecko. 
Other tokens such as Dogecoin (<a href="https://crypto.news/price/dogecoin/">DOGE</a>), Pepe (<a href="https://crypto.news/price/pepe/">PEPE</a>), and Floki (<a href="https://crypto.news/price/floki/">FLOKI</a>), have also experienced declines, though less severe. Despite the downturn, meme coins still command enormous attention. The success of recent TRON-based meme coin tokens launched with <a href="https://crypto.news/sunpump-buoys-trons-24-hour-revenue-over-ethereum/">SunPump</a> is evidence of this increased attention. 
 Read more: <a href="https://crypto.news/cardano-switches-to-decentralized-governance-with-chang-hardfork/"> Cardano switches to decentralized governance with Chang hardfork </a>

BOME, WIF, SHIB hit the hardest, investor interest in meme coins declines

crypto.news

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