“Leading Meme Coins Struggle: Can Dogecoin Make a Comeback?”
In the world of cryptocurrency, meme coins have been a hot topic lately. However, leading meme coins like Shiba Inu and Dogecoin are currently underperforming, with both seeing a decrease in their value. While Bitcoin is also down, some other major cryptocurrencies are actually in the green.
The entire meme coin sector is experiencing a downturn, with popular coins like dogwifhat, Bonk, and Brett all seeing significant losses. Even well-established meme coins like Pepe and Floki Inu are down as well. However, Mog Coin is bucking the trend with a modest price uptick.
Celebrity meme coins, which gained popularity in June, have also seen a sharp decline in value, with some tokens losing more than 90% of their value. This sector has also been plagued by bad actors impersonating celebrities to promote their tokens.
Despite the current downturn, there is hope for Dogecoin. Cryptocurrency analyst Ali believes that Dogecoin tends to rally after a period of consolidation, and he is buying more DOGE in anticipation of a potential comeback. While Dogecoin is still far from its record high, it has seen a 14% increase in value over the past two weeks.
It will be interesting to see if Dogecoin can stage a comeback and regain some of its lost value in the coming weeks. Stay tuned for more updates on this developing story.
