Memecoin Plummets Dragged Down by Bitcoin Price

Bitcoin, the world's largest crypto asset, suffered a sharp decline this weekend. From a record high of $69,000 (Rp1.08 billion), the price of Bitcoin dropped to $65,000 (Rp1.02 billion) recently. Memecoin prices also declined, including PEPE and DOGE.

The decline impacted the entire crypto market, including meme coins, which are crypto assets inspired by funny and popular internet memes. Some of the famous meme coins are Bonk, Floki, Pepe, and Dogecoin.

BONK Price Slumps

Bonk (BONK) is the first meme coin to launch on Solana, a blockchain platform that offers speed and low fees. Bonk was distributed for free to Solana NFT users and collectors in December 2022, and managed to reach a trading volume of $20 million (Rp314 billion) in a short period of time.

However, Bonk was unable to withstand market pressure, and its price plummeted by 28.67% in the last 24 hours. Currently, Bonk is trading for $0.000029 (Rp0.46), with a market capitalization of $2.04 billion (Rp32 trillion) and a circulating supply of 65.19 trillion BONK coins.

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FLOKI, PEPE, and DOGE Down

Floki (FLOKI) is a meme coin inspired by the Shiba Inu dog owned by Elon Musk, CEO of Tesla and SpaceX. Floki claims to be a "people's crypto asset" and has an ecosystem that includes the NFT metaverse, tokenization platforms, prepaid cards, and marketplaces of goods and NFTs. Floki also has the backing of several well-known crypto projects, such as Chainlink, Trader Joe, and ApeSwap.

Even so, Floki also did not escape the negative impact of Bitcoin's decline, and its price fell by 26% in the past day. Floki is currently trading for $0.000110 (Rp1.73), with a market capitalization of $1.15 billion (Rp18 trillion) and a circulating supply of 9.57 trillion FLOKI coins.

Pepe (PEPE) is a meme coin based on the character Pepe the Frog, an internet meme popular since the early 2000s. Pepe was created as a tribute to the meme, which has a long and controversial history. Pepe wants to differentiate itself from other meme coins by building on Pepe the Frog's legacy, and strengthening its appeal within the crypto community.

Pepe has also decreased in price by 19.86% in the last 24 hours, and is currently trading for $0.000006 (Rp0.09), with a market capitalization of $2.72 billion (Rp42.7 trillion) and a circulating supply of 420.69 quadrillion PEPE coins.

While Dogecoin, a more widely known meme coin, has decreased by 6.33% in the last 24 hours, with a current value of $0.14 (Rp2,200) and a market capitalization of $23.58 billion (Rp370 trillion).

Dogecoin is one of the oldest surviving crypto assets, which was launched in 2013 as a joke imitating Bitcoin. Dogecoin gained popularity thanks to the support of Elon Musk, who often posts tweets about the coin. Dogecoin also has a large and loyal community, which often uses the coin to tip or donate to others.

Also Read How to Buy Crypto:

Kesimpulan

These price fluctuations show the interconnectedness between Bitcoin and altcoins, including meme coins. When Bitcoin undergoes price changes, both up and down, altcoins tend to follow suit. This shows that the crypto market is still heavily influenced by sentiment and speculation, as well as external factors such as news, regulations, and important events.

Investors and crypto enthusiasts should monitor market movements closely, acknowledge their impact on their portfolios, and the importance of staying updated on Bitcoin's price. Meme coins may offer great profit potential, but they also carry high risks. Therefore, investors should exercise caution and do some research before buying or selling meme coins.

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How to Buy Pepe Coin (PEPE) on Bittime

You can buy and sell Pepe Coin (PEPE) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.

Pepe Coin (PEPE) is available on Bittime with the PEPE/USDT market pair. To be able to buy PEPE USDT on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.

Learn the complete guide on how to buy PEPE (PEPE) on Bittime.

Monitor the price chart movements of Pepe Coin (PEPE), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

Memecoin, What Is It and What Are Some Examples?

The Rising Popularity of Pepe Coin in the Crypto Market: Price Analysis and Market Strength of PEPE

FLOKI Token Soars 343% in a Week: Here's Why!

DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.