- Dogecoin is the most popular memecoin- and its price action could dictate the sector’s trends.
- On-chain metrics showed a buy signal for long-term DOGE investors.
The memecoin market has shed 39.4% in market cap since the 9th of December. Over the past month, the price charts of most memecoins have been pointed downward only.
Bitcoin’s [BTC] volatility around the $100k mark has affected the altcoin market, and in turn, the memes as well.
Source: CoinMarketCap
The launch of Official Trump [TRUMP] did little to alleviate this stress. Holders were tempted to sell their other meme holdings and buy TRUMP as its price shot higher rashly.
After reaching an all-time high of $73.43 on the 19th of January, TRUMP too has been in a severe decline, falling 71% in two weeks.
Source: TRUMP/USDT on TradingView
The token has fallen
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Author: Akashnath S
