Coin memes like SHIB, DOGE and FLOKI have not escaped the sell-off in the crypto market, with average losses of 8% and even stronger downtrends when they peak locally.
Shiba Inu cannot recover
After the retracement began to slow and the SHIB began to consolidate around the $ 0.00005 area, many Shiba Inu market participants hoped that it would continue to break out of the consolidation range and hit new highs, a 20-day low.
At press time, SHIB has lost more than 40% of its previous profits, although on-chain and forest dates show that investors are still interested in buying more tokens.
Unfortunately, while DOGE is still the oldest dog-themed digital asset, it has struggled to get positive results and move around for the past 100 days.
Dogecoin’s recent price action largely followed the market with a loss of nearly 8% in the past 24 hours.
Floki is about to lose his position
Floki was developed as the third largest meme coin in the market and should have been SHIB’s main competitor, but unfortunately it has not shown an impressive market performance since the last ATH.
In the past two weeks, Floki has lost 41% of its value and is down 48% from its most recent ATH. Floki has had six consecutive red candles since November 12th.
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According to U.today