Bitcoin is flashing green during the early Asian trading session on Tuesday, and memecoins, which were the biggest losers in the recent sell-off, are also recovering along with the big crypto.
After an amazing performance in part of last week, the memecoins has been bleeding over the last week, posting double-digit losses, against BTC’s 6.56% slump to $58,400..
At the time of writing, tokens in this sector had begun their recovery as the big crypto climbed back above $61,000.
Top memecoins performance. Source: CoinMarketCap
Solana-based Book of Meme (BOME) has rallied over 10.58% over the last 24 hours and is now priced at $0.009029, according to data from CoinMarketCap.
The token ignited to fresh peaks after its launch in mid-March, riding on the back of broader Solana hype. Despite the recent correction, it’s still up more than 24% since its listing on March 16.
Another battered memecoin is Pepe, which fell by over 23% over the last 30 days. Even so, the Ethereum-based token is still revelling in recent gains, up 11% over the past 7 days. PEPE has recovered nearly 10.99% over the last 24 hours and now teeters at $0.000001167 at the time of writing.
Dogwifhat (WIF)—the biggest gainer of all cryptocurrencies last week— managed to avoid much of the pain over the week and fell by 9%. WIF is the largest gainer among the top-cap memecoins, rallying more than 23% over the last 24 hours to exchange hands at $1.88
Within the top 10 coins and tokens, the two biggest memecoins fell harder than Bitcoin. Shiba Inu (SHIB), the 12th-biggest digital asset by market capitalization, dropped significantly after popping to its highest price since 2021 last week. It has recovered more than 1.71% of these losses and is currently trading at $0.00001731.
Its rival, Dogecoin (DOGE), also dropped hard and lost over 25% of its value over the last 30 days. The dog-themed token is recovering, as shown in the daily chart below. If the support at $0.120 holds, DOGE could rise from the current levels first to the $0.150 psychological level and later to the range high at $0.17485
TradingView chart: DOGE/USD
On the downside, a daily close below $0.120 would see the price drop first toward the support $0,10 and later to the support floor at $0.080. The RSI has risen from 29 to 34 over the last 24 hours, suggesting that the price might be gaining momentum.
