These Top 5 Meme Coins Are Bleeding As March 2023 Ends – Here’s Why

Christian Encila

2 years ago

3 mins read

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As we bid farewell to March, it is worth taking a closer look at the meme coins that have struggled to regain their recent strong price performances.

In the last 30 days, several tokens have lost double-digit values due to various factors that affect the broader crypto market.

Despite being expected to recoup their recent losses, these coins have failed to do so, highlighting the unpredictable nature of the crypto market.

However, as history has shown, there is always a possibility of a major rebound, which is the essence of crypto.

Here Are The Top 5 Meme Coins That Have Struggled As March Ends

DOGE

Dogecoin is one of the most famous meme coins, known for its whimsical dog-themed branding and widespread community support. However, in the last 30 days, it has lost 7.5% of its value, according to Coingecko.

On March 30th, Whale Alert reported an astonishing transfer of 350,000,000 DOGE from one anonymous wallet to another. This transaction, worth $26,581,455, caused the price of DOGE to drop slightly by 2% in the last 24 hours.

At the time of writing, DOGE was trading at $0.07465, down nearly 3% in the last seven days, data from crypto market tracker CoinMarketCap shows.

SHIB

Shib is another popular meme token that has seen its fair share of ups and downs. SHIB has fallen by 15% in the last 30 days, although it has risen by 34% since the start of the year.

SHIB is currently trading at $0.00001061, down 2.7% in the last seven days, according to CoinMarketCap. However, with the upcoming full public launch of the Shibarium layer-two network next month, there is a possibility of an above-average upwards correction.

FLOKI

Floki is a cryptocurrency that began as a meme-coin based on billionaire Elon Musk’s dog but has since expanded into a full-fledged Web3 endeavor encompassing decentralized finance, non-fungible tokens, and the Metaverse.

Yet, according to Floki’s one-month chart, this meme coin has been in a continuous slump for some time, losing 30% of its value. FLOKI has lost 14% of its value in the previous two weeks at the time of writing.

BONE

Bone ShibaSwap (BONE) is a governance token of the Shibaswap ecosystem, allowing the #ShibArmy to vote on upcoming proposals. However, a look at the charts shows that BONE is all red. On Coingecko, the meme coin is down 7.4% in the last seven days.

In the last month, it has shed 37% of its value, which is 25% higher than what it lost in the last 14 days. With a circulating supply of 230 million, BONE is valued at a market cap of $243,077,448.

Crypto total market cap at $1.13 trillion on the daily chart at TradingView.com

ELON

Dogelon Mars (ELON) is a doge-themed token project that aims to replicate the success of Dogecoin while referencing Elon Musk’s vision to colonize Mars. It has been listed as the third most valuable meme coin by CoinMarketCap.

Despite its impressive growth, with a market cap surpassing $1 billion at its peak, ELON has been down 6% in the last seven days. In the last month, the meme coin has shed 21% of its value.

In conclusion, meme coins have always been volatile, and the recent performance of these tokens is a reminder of their unpredictable nature. While a major rebound is always a possibility in the crypto market, investors should exercise caution.

-Featured image from Coinpedia.org

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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