Bad-Performing Cryptocurrencies During Bitcoin Halving

Memecoins meme coin

After slight gains in the crypto market, some top assets recovered previous losses, but outflows were observed in certain coins.

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The Bitcoin halving has sparked optimism, with many expecting a resurgence in top crypto assets. Two days post-halving, most assets saw positive movement, with Bitcoin regaining lost gains from pre-halving liquidations that dropped its price below $63,000. Currently, Bitcoin trades at $66,256, with most top assets in the green zone. However, some assets traded against the market’s direction, recording outflows. Here are the biggest losers in the market in the last 24 hours.

 

Memecoins Experience Losses Post-Halving

Following the Bitcoin halving, memecoins emerged as the top losers, with investors withdrawing funds to invest in top crypto assets expected to rally alongside Bitcoin. Dogwifhat, for instance, saw a 5.2% decline in the last 24 hours and a 2% drop for the week, erasing previous gains.

Dogwifhat and Monero Performance: Dogwifhat is currently priced at $3, with a market capitalization of $2.9 billion. While trading volumes slightly decreased to $506 million, commentators anticipate an inflow with broader market gains post-Bitcoin halving. Monero experienced a 1% loss in the last 24 hours and a 2% decline for the week, with daily trading volume at $40.6 million, trading at $120.19.

Dogecoin and Other Memecoins: Dogecoin’s price sits at $0.16, marking a 0.9% decline today amid halving momentum. Despite this, several top memecoins also trade with minimal losses post-Bitcoin halving, with DOGE down 3.9% for the week. However, bullish sentiment remains strong, with projections of significant gains in the memecoin market.

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Biggest Gainers in the Memecoin Market

Monku emerged as the biggest gainer in the last 24 hours, experiencing a 156% inflow, while Kabosu Inu and Solama recorded gains of 58.4% and 54.6%, respectively.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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