Cat Vs Dog-Themed Memecoins: Where Are Weekly Flows Heading?

2024/04/19By:

An increase in a number of cryptocurrency assets is evident from prior weeks as investors choose between memecoins with a dog or cat theme.

 

Even while some tokens with dog and cat themes are seeing gains, the top memecoins are reporting daily outflows. Certain memecoins have increased in value during the same time as the cryptocurrency market is still experiencing liquidations.

 

The market value of memecoins with a cat theme is currently $1.7 billion, down 6.6% from the previous day, while rivals with a dog theme are at $54 billion, down 0.7% from the previous day.

 

 


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Top Asset Outflows

 

 

There have been disproportionately large outflows from certain assets as investors signal temporary withdrawals from the market. An exit rate of 19.7 percent in the past 24 hours and 43.3 percent for the week has been recorded for popular
memecoins such as MEW. As the memecoin mania dies down, sentiment drops, leading to precipitous declines in value and a gloomy prediction for the future.

 

 

 

Mog Coin (MOG) has also lost 8.9% of its value, while POPCAT has lost 16.9%. Although MOG has a 13% inflow, POPCAT’s weekly flows are still in the red zone. Despite the asset’s recent modest moves, this illustrates its earlier growth.

 

CAT continued its weekly losses as WEN fell 16% and 8%, respectively, today. WEN manages to keep a 5.9% gain during that time. With a 16% increase in the past day, LMEOW is trading counter to the outflows. A number other memecoins have also experienced a 100X surge at this time.

 

 

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Dog-Themed Memecoins

 

 

Memecoins centered around dogs, like those centered around cats, are in the red zone. There has been a 6.6% drop in Dogecoin (DOGE) and a 1.8% drop in Shiba Inu (SHIB). In the same time frame, both Floki and dogwifhat experienced a 4.5% decline. Tokens with a canine motif typically maintain weekly gains, with some even surpassing 20%.

 

 

Among the top gainers today, KiboShib is up 46%, Cheems is up 28.9%, and Chinu is up 10%. Users may be shifting their focus to memecoins after KiboShib experienced a 68% increase this week.

 

Market sentiment toward memecoin and other cryptocurrencies as a whole, as well as macroeconomic factors that have both positive and negative side effects, are to blame for the current state of the market.

 


 

 

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BTCC is one of the world’s oldest and most popular bitcoin exchanges. Bobby Lee created it in 2011, with its headquarters initially located in Shanghai, China. BTCC contributed significantly to the early development of the Bitcoin and cryptocurrency ecosystems.

 

BTCC initially concentrated on Bitcoin trading, but it gradually expanded its capabilities to cover other cryptocurrencies as well. The exchange allows users to purchase, sell, and trade numerous cryptocurrencies, including as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), among others.

 

BTCC has received recognition for its strong trading platform, liquidity, and security precautions. The exchange provides features such as spot trading, margin trading, and futures trading to accommodate various types of traders and investors. It gives consumers real-time access to market data, order books, and trading charts, allowing them to make informed trading decisions.

 

BTCC has undergone various alterations throughout the years in order to adapt to the changing regulatory landscape. It expanded its activities abroad, opening offices in other countries to serve a global customer base. However, cryptocurrency legislation and availability may differ based on jurisdiction.

 

As the cryptocurrency market evolves, BTCC remains a significant player in the industry, providing a variety of services and contributing to the growth and development of the crypto ecosystem.

 



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