June Market Downturn Hits Turbo and PepeCoin Hard, Brett Stands Tall

It is no longer news that the meme and broader cryptocurrency market was in a state of turmoil all through June, evidenced by the sudden declines hitting most meme assets, in which Turbo (TURBO) and PepeCoin (PEPECOIN) were grossly affected. However, coins like Brett (BRETT) remained unscathed, as they are all on the path to concluding the month on an impressive note.

At the time of press, CoinMarketCap’s meme coins market statistics revealed that the entire market boasts a market capitalization of about $48.5 billion, having appreciated by about 3.59% in the past 24 hours. Similarly, the meme coins market’s 24-hour trading volume recorded a 27.34% upswing with a $4 4 billion valuation, implying a possible market recovery.

Advertisement

Turbo And PepeCoin Suffer Significant Declines In June Market Slumps

Turbo and PepeCoin are two of the top trending meme crypto assets identified to suffer tremendous losses in June, which, if a similar momentum persists in July, could result in massive losses for holders who are probably contemplating sell-offs to mitigate more losses.

On its price chart, Turbo is trading at approximately $0.0045, reflecting a 1.4% decline from the previous day. The coin’s 7-day-to-month, 14-day-to-month, and 30-day-to-month statistics all recorded declines of about 18.1%, 6.5%, and 43.9%, respectively.

Similarly, PepeCoin recorded a similar downward trend as Turbo, trading at about $3 and mirroring a slight 0.1% decline. PepeCoin 7-day-to-date, 14-day-to-date, and month-to-date variables registered declines estimated around 6.5%, 19.6%, and 50.4%, respectively.

Brett Stands Tall, As It Closes Up On FLOKI

Brett has been one of the most impressive meme coins in the turbulent market cycle, appreciating by about 80.9% in its 30-day-to-date statistics, closing up on FLOKI in digital assets rankings, and reigniting arguments about its tenacity to displace FLOKI.

Notably, CoinMarketCap ranks Brett as the fifty-third most valuable cryptocurrency with about a $1.6 billion market cap, placing it directly below FLOKI and underscoring Brett’s remarkable run amid market slumps.

FLOKI  Suffers Decline, Yet Remained Resilient

Ethereum-based meme coin FLOKI qualified as one of the most hit meme coins apart from previously highlighted Turbo and PepeCoin. However, because of its high-ranking position, it still enjoys the benefit of the doubt among enthusiasts.

According to CoinMarketCap’s FLOKI market readings, the Ether-based meme crypto asset is trading at about $0.00017, mirroring a slight 0.84% upswing from the previous day. The coin boasts a $186.43 million 24-hour trading volume with a $1.64 billion market capitalization.

In addition, FLOKI’s market valuation ranks it as the fifth most valuable crypto meme asset, with the potential to displace dogwhifat (WHIF), another June depreciated token holding on to the fourth place. However, it might not be easy, as the gap between both coins appears significantly wide. WIF boasts a market cap of approximately $2.13 billion, with a 24-hour trading volume estimated at around the $592.6 million region.

FLOKI And PEPE Could Be The Most Profitable Meme Coins In July

With the possibility of the Ethereum spot Exchange Traded Fund (ETF) trade going live in July, chances are high that every Ethereum-linked cryptocurrency will be the biggest winner of the anticipated sales.

BREAKING: $ETH ETFs will likely be approved to start trading by July 4. This is very bullish for ETH based memecoins like $FLOKI and $PEPE. pic.twitter.com/nt3A9Ygnby

— BITCOINLFG® (@bitcoinlfgo) June 27, 2024

Hence, the above expectations imply that FLOKI and PEPE could be gearing up for an incredible run in July, considering their relationship with the Ethereum blockchain, which could see both tokens attain great heights in the meme coin ecosystem.

Read More

• Can Ethereum and Solana Outperform Bitcoin Soon Amid Rising ETF Interest?
• DePIN Crypto Projects to Watch In 2024 – Top 10 DePIN Coins
• Best Metaverse Coins to Invest – Next Metaverse Coins

Advertisement