Despite the anticipation of a meme coin supercycle, recent data indicates significant downturns for popular meme coins such as Dogecoin and Shiba Inu, which have faced declines between 8% to 31%. This unexpected trend comes as investor focus shifts towards Bitcoin, following its halving event and the rise of Bitcoin ETFs, which have redirected market interest and investment. Notably, while the overall meme coin market cap has fallen, certain coins like PEPE and BONK have defied the trend, showcasing gains. This situation highlights the unpredictable nature of meme coins and challenges the notion of a unified market movement even during supposed supercycles.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
