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The long awaited Bitcoin (BTC USD) The halving did not meet the expectations of many memecoin holders. Instead of a multiple rise, the crypto market experienced a decline of varying depths. The market capitalization of tokens from the “meme” category has fallen and is now approx 56 billion dollars to mark. With total market capitalization relatively unchanged, this suggests an outflow of funds. The loss of support levels has investors already making a list of meme coins to sell. They realize that it’s not worth staying in a loss-making asset just because they previously made money on that token.
With a market-wide correction and growing FUD, the balance between risks and potential opportunities is changing. During the bull market, meme coins managed to gain value and become bigger and bigger players. If the flow of capital from a certain group of meme coins to projects with a more developed technological base is confirmed, these coins will fall into crisis.
Meme Coins to Sell: ApeCoin (APE-USD)
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NFT project Bored Ape Yacht Club (BAYC) capitalized on the general excitement surrounding meme culture and introduced its ApeCoin Sign (APE-USD). It was useful for the development of the ecosystem and provided a voice in decision-making on controversial issues of the BAYC. One of the most well-known NFT collections promotes the integration of APE into payments for non-fungible tokens and related services. BAYC’s influence caused the token to become increasingly popular in its first few months of existence, attracting investors looking to capitalize on the latest trends in the cryptocurrency market. During its heyday, APE broke the $20 Brand, but this representative of meme coins for sale couldn’t stay up $10.
Everyone can influence the further development of the project, because ApeCoin corresponds to a stake in the management of BAYC. Despite this usefulness, the token fell victim to the changing preferences of the crypto community. A drop on about $1 followed the rise of APE. The decline resulted from an internal struggle within the Bored Ape Yacht Club ecosystem and several external factors.
The lower use of APE for settlement payments reflected the market-wide trend of declining investor interest in NFTs. The cooling of the market for these digital assets has historically resulted in a slow downward trend on the price chart 2 years. Changes in official control do not indicate an imminent boom for ApeCoin $1.31 per token is not a “sweet” price.
Shiba Inu (SHIB-USD)
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Dog-themed meme coins have proven to be valuable assets that can add a few zeroes to the wealth of crypto enthusiasts. Shiba Inu (SHIB USD) began circulating between wallets as an analogue Dogecoin (DOGE-USD). However, this token quickly gained attention due to its charismatic branding and social media discussions. Community growth and participant engagement helped create a multi-billion dollar market capitalization. Nevertheless, a repetition of that Result 2021 seems unlikely even in the current bull market.
March 2024 brings SHIB trading to life, but the trend of 2021-2023 is still reflected in the token’s capitalization chart. Its wave-like shape highlights the high volatility of the digital asset, and the decline in the tops of these waves suggests that the token will be added to the list of meme coins for sale. Despite its skyrocketing market capitalization, SHIB cannot demonstrate stable growth and resilience to market changes.
Combined with the decline in interest in dog meme coins, Shiba Inu’s position could be shaky as the project only offers a limited number of benefits to users. The speculative nature of this digital asset allowed its price to rise quickly during hype cycles in September-October 2021 and February-March 2024. However, the situation now seems more similar to the time of End of 2021 – beginning of 2022as investors pulled their hair out and watched the price fall from $0.000079 to $0.000008.
Bonk (BONK-USD)
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Bonk (BONK USD) appeared during the period of negative market sentiment after the FTX crash. The 2022 airdrop distributed half of the token supply to Solana ecosystem participants. Such a generous gesture during the crypto winter laid the foundation for the project’s rapid rise, but did not guarantee sustainable and continuous growth of the token. Double price drops within a few days are the norm for this asset.
Like a large portion of meme coins for sale, Bonk has limited real-world applications. Despite efforts to increase utility, BONK primarily serves speculative trading and community engagement. The support of participants on social networks determines the next price points of the token. At the same time, the excitement around dog tags won’t last forever, as the story becomes less interesting if it’s told over and over again without improvements and additions. The project has limited itself to additional tools to increase the price at a time of increasing competition among meme coins. Without innovation and expanded opportunities to engage the community, it will not be able to withstand pressure from other stakeholders.
The “Coinbase effect” helped the project reach its peak December 2023and the general upward trend pushed Bonk to his limits All-time high (ATH) in March 2024. However, a turn into bearish sentiment would mean BONK falling to its lowest support level. Such a critical test for the bulls could be fatal for token holders.
At the time of publication, Julia Magas did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.