NewsletterCat Vs Dog-Themed Memecoins: Where are Weekly Flows Going?
Top memecoins are posting daily outflows although gains are recorded in some cat-themed and dog-themed tokens. While liquidations continue in the cryptocurrency market, some memecoins have rallied in the same period.
The market capitalization of cat-themed memecoins stands at $1.7 billion, a 6.6% drop today while dog-themed rivals are at $54 billion, a slight 0.7% drop in the last 24 hours.
Outflows From Top Assets
As investors mark short-term exits from the market, some assets have suffered more outflows than others. Top cat memecoins like MEW have seen 19.7% exit in 24 hours and 43% this week. The plummeting figures creating a bearish outlook are due to reduced sentiments as the memecoin frenzy subsides.
Similarly, Mog Coin (MOG) and POPCAT have lost 8.9% and 16.9% respectively. While POPCAT’s weekly flows remain in the red zone, MOG holds a 13% inflow. This shows the previous growth of the asset despite recent slow movements.
WEN and CAT plunged 16% and 8% respectively today with further weekly losses recorded by CAT. WEN maintains a 5.9% gain in that period. LMEOW trades against the outflows with an 18% surge in the last 24 hours. Several memecoins have also spiked 100X in the same period.
Dog-Themed Memecoins
Top dog memecoins are also in the red zone like cat-themed counterparts. Dogecoin (DOGE) and Shiba Inu (SHIB) are down 6.6% and 1.8% respectively. Floki and dogwifhat also posted losses of 4.5% in the same period. On average too dog themed tokens hold on to weekly gains with some going above 20%.
On top gainers, KiboShib is up 46% today while Cheems and Chinu have rallied 28.9% and 10 l% respectively. KiboShib saw over 68% this week leading to speculations of users trickling into memecoins.
The present memecoin market can be attributed to wider sentiments in crypto assets and macroeconomic factors causing both sideways effects and leaning outflows.
Read Also: Top Memecoins Surging 100X Today
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