Popular meme coins, Dogwifhat, and POPCAT are trading negative gains by the market with weekly outflows amid a wider market bullish momentum. A glance at the market shows Bitcoin (BTC) and altcoin prices in the green zone as market sentiments rebound.
The recent inflows recorded in crypto assets are heightened towards memecoins based on the volatility of coins rallying across community spaces. At press time, the crypto market capitalization stands at $2.42 trillion, a 3.13% increase in the last 24 hours. Meanwhile, meme coins have surged 1% to $56.4 billion.
Dogwifhat and POPCAT Face Road Block
Both assets are the only two meme coins with negative flows in the top 10 assets list by market capitalization. Dogwifhat trades at $2.83 after posting daily losses of $0.5%. Its daily range was at a low of $2.80 and a high of $2.95. Intraday trading remains low as the recent corrections continue amid a bullish market sentiment.
Dogwifhat’s bearish sentiment has extended to 3.3% weekly losses although monthly flows are green. Daily volumes are also low for the asset amid a jump in other tokens. The asset’s daily volume is at $416 million while its market cap fell to $2.8 billion.
POPCAT is down 2.1% in the last 24 hours extending weekly exits to 7.4% as sentiments around the asset continue to plunge. The assets market cap stands at $444 million while daily trading volumes fell to $36.8 million. POPCAT trades at $0.4504 today.
WIF Sees Bearish Sentiment
Dogwifhat has seen a 33% decline in trading volumes as bears take over the market. Technical indicators for WIF and Popcat also point downward amid reduced figures. Analysts believe the asset bulls haven’t picked up from the renewed surge in the market.
Crypto assets witnessed significant inflows this week after the release of positive CPI numbers signaling a fall in inflation and the reduction in interest rates. The first rate cut could come in September depending on inflation figures ushering in a bull drive as investors send funds into the market.
Also Read: 3 Meme Coins With 100X Potential Today
The post POPCAT and Dogwifhat (WIF) Post Weekly Outflows: Here’s Why appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed