The meme coin market has been seeing a major power shift in recent days. With Dogecoin still not rising to the anticipated $1 mark, to the entry of new sloth meme coin- SLERF, Shiba Inu’s continuous downfall, and BEFE’s unexpectedly steady performance.
Which of the three meme coins are performing better, and why? Let’s see.
SLERF
The new kid in the neighborhood, SLERF, took the market by storm upon its entry. SLERF lured all investors with the “SLERF” hype and promotion. The overhyping led to SLERF’s unexpected surge from $0.3 to its ATH of $1.37 on March 19, 2024. However, SLERF is currently facing a decline, with its price being at $0.59 on March 23, 2024. In the past 24 hours, SLERF has experienced a percentile decrease of 20.48%, and as per experts, SLERF might reach its initial launch value of $0.3 soon.
One of the major reasons behind this sudden surge and downfall of SLERF is the overhyping of the coin and suspicious activities found in the coin. The news of the “accidental” burning of the SLERF’s presale funds, valuing $10 million, has alerted investors. Though the whales still trust the coin, only time will tell whether SLERF will surf the meme waves or drown in them.
Shiba Inu
Despite a million tries, Shiba Inu is still unable to recover from its glory in the last bullish period of 2021. Even though Shiba Inu’s team has recently burned 299 million tokens, hoping to spread Shiba Inu scarcity, it has been up to no value. Instead, investors are either trading Shiba Inu tokens to gain profit, or staking it for other coins.
Looking at the current statistics, Shiba Inu is at $0.00002623 on March 23, 2024, showcasing a downfall of 3.08% in the past 24 hours. Shiba Inu’s weekly performance is also in the red zone, with the value percentile decreasing to 9.23%. The only way Shiba Inu might be able to recover is by shifting towards Shiba Inu’s resistance value of $0.00003. The possibility of Shiba Inu achieving this metric is slim but not impossible.
BEFE Coin
It’s been a few days since BEFE has been in the red zone, the major reason being change in the crypto market. Though BEFE has shown amazing performance in March, 2024, currently it is slowly falling down. The immediate BEFE price is $0.0004056, indicating a decline of 3.88% in the past 24 hours. However, chances of BEFE rising again are higher than that of SLERF and Shiba Inu.
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