With double-digit losses reported today, meme currencies lead the crypto market losses. Investors sold some meme tokens when the overall market sentiment fell, resulting in losses and a minor liquidation. The current situation can be seen with the market capitalization of cryptocurrencies plunging from Bitcoin. The market capitalization has dropped by 2.55% to $2.42 trillion, while trading volumes have fallen by 16%.
Meme currencies saw a 1.6% decrease in market capitalization, totaling $57.2 billion. Meme currencies fell to levels not seen since the recovery despite certain assets experiencing bull run inflows when trading against the market. The market capitalization of this class of meme currencies dropped to $1.95 billion today due to losses totaling 5.5%. These are the top meme coins with cats that are losing money.
Cat in a Dog’s World (Meow)
Mew has dropped 11.6% in the past day, sending weekly numbers into the dumps. Memes have seen 10.9% outflows over the past seven days as their value declines. MEW has a longer-term trend that is more encouraging and highlights the current corrections.
With trading volumes exceeding $81.3 million, the asset’s entire market capitalization dropped to $347 million. Users predict a rebound when feelings shift even though the market trades below its previous highs.
Mog Coin (MOG)
This once-rising asset has fallen 11.3 percent today and a more substantial 34% this week. Weekly losses skyrocket as investors and other industry forces pull money out of riskier assets. The MOG price is still falling, pushing selloffs. Still, the community anticipates a recovery similar to what has happened in recent months. With daily trading volumes above $30.9 million, the market capitalization is $331 million.
The Popcat (POPCAT)
Popcat, a cryptocurrency with theme, has achieved substantial capitalization and is being sold by multiple individuals liquidating their holdings. Popcat is down 7.2% but up 32.6% over the last seven days. In contrast to other assets, its monthly statistics remain negative, pushing the asset farther into the red. Despite the increasingly pessimistic forecast, Popcat’s valuation remains steady at $247.7 million.
