- Dogecoin holds steady, gaining 1.08% while Pepe and Bonk see significant losses.
- Elon Musk’s involvement with Trump’s campaign boosts Dogecoin, increasing 158% over 30 days.
- Shiba Inu drops 9.85% this week, trailing behind other top memecoins.
The memecoin market has seen a not-as-good Monday, with assets like Pepe and Bong losing part of their recent profits, while other coins like DOGE continue to maintain a stable performance throughout the week.
$PEPE lost 4.47% over the past 24 hours, currently trading at $0.00002023. Similarly, $BONK lost even more with a 7.43% daily deficit and trading right now at $0.00004847 according to CoinMarketCap.
While Pepe and Bonk stand among some of the biggest losers of the day, the scenario on a larger scale is far more optimistic. Despite today’s losses, both memecoins still stand as the week’s biggest winners out of the top 8 memecoins – making today’s retraction more “natural”.
Meanwhile, the top memecoin by market capitalization – Dogecoin is currently breaking even, with a 1.08% increase on November 18. Over the last few weeks, $DOGE was one of the fastest-growing cryptos in the market.
Boosted by Elon Musk’s presence in Trump’s campaign, and even a new government department named after Dogecoin – the first dog-inspired currency is up by an incredible 158% over the past 30 days.
$DOGE reached above the $0.42 zone four days ago and is now stabilized at $0.3717. Unquestionably, the memecoin’s close relationships with the Trump administration will make Dogecoin one of the currencies to keep a watch for in the coming years.
Its fellow dog-inspired currency – Shiba Inu sits amongst the top loser of the week among all top 10 memecoins. Over the past seven days, $SHIB went down by 9.85% – making one of the only joke-inspired cryptocurrencies at a deficit during that timeframe.
It is unclear why $SHIB is being outpaced by all other memecoins. There have been reports of crypto whales moving SHIB to other wallets. However, on the monthly charts, $SHIB is still bullish at a 30% increase.
