Users started to abandon meme cryptocurrencies en masse

Researchers in the cryptocurrency industry note that the hype for meme cryptocurrencies has abruptly waned. According to data from the past week, all virtual meme assets have lost significantly in value.

Currently, Dogecoin (DOGE) is the best performing cryptocurrency. The asset’s quotes were fixed at $ 0.06 with a market capitalization of $ 8.63 billion. Over the past seven days, the cryptocurrency has fallen by 11.5%, with trading volumes amounting to only $ 1.26 billion. The coin is trading 92% cheaper than its all-time high (ATH).

Shiba Inu (SHIB) fell even further, by 15.6%. The cryptocurrency dropped to 18th place on the top list with a $ 4 billion capitalization. The token is available for purchase at $ 0.67. Overall, SHIB also fell by 92% from its ATH. During the week, traders secured $ 666.54 million worth of transactions with the coin.

Pepe (PEPE), which made a lot of noise in May, fell by 21% during the reporting period. The price of the meme token was fixed at $ 0.92. The total supply of coins circulating on the market amounted to $ 361.54 million, and weekly trading transactions reached $ 910.94 million. The value of the virtual asset has fallen by 79% from its peak values.

Finally, Floki Inu (FLOKI) fell by 21.3% over the past week. Its quotes were fixed at $ 0.22, and its market capitalization reached $ 204.47 million. It left the top 100 and ended up at the 120th line in the crypto ranking. The weekly volume of transactions with FLOKI reached $ 140.67 million.

Despite the decline in the most recognizable meme assets, market experts also noted the rapid excitement and growth of the Jesus (RAPTOR) meme coin. According to the CoinMarketCap analytical tracker, the meme token has increased by 166% over the past 24 hours. At the moment, RAPTOR can be purchased for $ 0.6 668, with a market capitalization of $ 4.4 million. Traders have made daily trading deals worth $ 12.8 million. As of today, June 14, more than 1,600 holders own the coin.