Solana Meme Coin Bonk and Ethereum’s Pepe See Big Losses

Meme coins Bonk, Pepe, and Brett are among the top five worst losers in the top 100 cryptocurrencies in the past day, according to Coingecko data.

Solana’s dog coin Bonk (BONK) has taken the greatest hit, falling 12.1% to $0.000023 on the day. This comes amid a Bonk DAO vote to burn 100% of the BONK earned by the Decentralized Autonomous Organization (DAO). At the time of writing, the approval is set to pass with 99.3% of the vote.

Meanwhile Ethereum’s Pepe (PEPE) is down 9.6% and Base chain’s Brett (BRETT) has fallen 8.1%. These are outsized losses compared to the broader meme coin market, as defined by CoinGecko, which has slipped by 3% in the past 24 hours.

Other big meme losers include Dogwifhat (WIF) which has fallen 5.1%, Mog Coin (MOG) down 12.7%, and Popcat (POPCAT) which has stumbled 10.6%. Even meme coin veteran Dogecoin (DOGE) is down 3.1%.

In fact, the meme coin market has been hit so hard that only one of the top 50 meme coins by market cap is in the green over the past 24 hours. Ethereum’s Kendu Inu (KENDU) is up 13.3% after a Coinbase video advertising its new wallet web app included the token’s ticker.

“Notice anything chads,” the meme coin’s Twitter account posted, “Coinbase it’s time.”

Notice anything chads? 😏@coinbase it’s time.

List $KENDU 🪖🍸 https://t.co/1OWlyVYSnm

— Kendu Inu (@KenduInu) July 11, 2024

According to CoinGecko, KENDU has a market cap just shy of $100 million after its 21% rise over the past week.

Despite the meme coin market taking a hit, zooming out it doesn’t look too bad.

The meme coin category has gained 3.1% over the past 7 days, with many of today’s losers still being valued higher than they were a week ago.

This includes MOG which is up 21.3%, Bonk up 12.9%, Doge still up 7.8%, Popcat 4.4%, and Pepe 5.2%.

Edited by Stacy Elliott.

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