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
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 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 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 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
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