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An investor’s worst nightmare is an unexpected decline in their chosen asset. The current bull market has been heavily focused on meme tokens, which has resulted in significant overbought. Promiscuous buyers do not tend to change asset pools frequently, although they do move into the category of meme coins for sale. Investors who fall into this trap wake up too late from their dreams of increasing their investment portfolio a hundredfold.
June 2024 was a cold shower for many owners of coins with no fundamental value. The correction was predictable, but greed prevented buyers from dumping dangerous tokens. As a result, forums are full of posts about incredible drops and meme coin holders are tearing their hair out.
While traders are looking with fear at a possible 10-20% decline Bitcoin (BTC USD), meme coin holders have already seen declines of 30, 40, and sometimes 70%. A timely exit from assets should not be viewed as a loss. On the contrary, it is an opportunity to save earnings and switch to more promising coins for your savings and peace of mind.
Floki (FLOKI-USD)
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In the three years of its existence Floki (FLOKI-USD) has attracted hundreds of thousands of users and conquered the fifth Position in the market capitalization ranking among meme coins. Dogecoin (DOGE-USD) And Shiba Inu (SHIB USD) gave an example and Floki used her experience as a guide. As a result, it boasts “the people’s cryptocurrency.” 400,000 registered wallet holders and tries to provide functional advantages to differentiate itself from other representatives of meme culture. It operates under ERC-20 and BEP-20 standards and is expanding its partner network to keep up with the hype. And these efforts paid off, setting new records at the beginning of June 2024 (a price peak of $0.0003462).
Enthusiastic investors expected another rise, but everything was doomed 2-fold Waste. The token has fallen in the last 7 days alone 17.13% and is currently at around its lowest monthly level. Market capitalization shows a similar behavior: when it is exceeded in mid-June 3 billion dollarsnow it’s struggling to overcome that $1.6 billion to mark. Bearish sentiment dominates among FLOKI holders, and the Relative Strength Index (RSI) could only go up 36.89which puts the token on the list of meme coins for sale.
Cat in a Dog World (MEW-USD)
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Amidst the abundance of dog-themed meme coins, the crypto community wanted some variety. Created in March 2024, Cat in a dog world (MEW-USD) offered an alternative in the form of a white cat. Given the number of competitors, one might not have expected it to have much traction, but the market behaved illogically. Within a few months, the token achieved what hundreds of altcoins could not: leaderboard 153 in terms of market capitalization.
Thanks to the hype generated by its listing on Binance Futures on June 17, 2024, the token managed to maintain its position despite the bullish sentiment. This move is not a sign of further growth, as token prices typically rise before and for a short period after debut on major platforms. The market capitalization did not increase despite this event. It is only half of its April values, when it crossed the limit 750 million dollars Mark, which is alarming and puts the token in the category of meme coins for sale. The STOCH indicator is showing 25.32, which represents a direct sell instruction. The long-term sustainability of the meme coin depends on the trust of investors, who will not be sympathetic if the hype surrounding the project dies down.
PepeCoin (PEPE-USD)
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The start of 2024 was favorable PepeCoin (PEPE-USD), which can be seen from the repeated rise of the price chart. The winter-spring of this year brought the coin new records in the form of highs $0.000009977 and then $0.00001718. After purchasing the token, investors were confident about the future and did not expect it to enter the category of meme coins for sale. However, with the downturn in May and June as PEPE passed, the growth picture began to collapse 1.5 times. The market value to realized value ratio (MVRV). suggests that investors have become more cautious and the coin has entered a dangerous zone.
Over the past 10 days, whales have continuously withdrawn funds from the asset, resulting in a total outflow of more than $100,000 120 million dollars. This activity has suppressed the potential for a near-recovery and cooled buying sentiment. The sale of 114 billion PEPE alone shocked the community and made them think about hedging other assets. At a time like this, investors are taking a closer look at recent allegations of insider trading and security breaches. The trust and activity of the community are decreasing, but further growth is only possible with it.
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.