Cat Vs Dog-Themed Memecoins: Where Are Weekly Flows Heading?

Last updated: 2024-04-19

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An increase in a number of cryptocurrency assets is evident from prior weeks as investors choose between memecoins with a dog or cat theme.

Even while some tokens with dog and cat themes are seeing gains, the top memecoins are reporting daily outflows. Certain memecoins have increased in value during the same time as the cryptocurrency market is still experiencing liquidations.

The market value of memecoins with a cat theme is currently $1.7 billion, down 6.6% from the previous day, while rivals with a dog theme are at $54 billion, down 0.7% from the previous day.

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Top Asset Outflows

There have been disproportionately large outflows from certain assets as investors signal temporary withdrawals from the market. An exit rate of 19.7 percent in the past 24 hours and 43.3 percent for the week has been recorded for popular
memecoins such as MEW. As the memecoin mania dies down, sentiment drops, leading to precipitous declines in value and a gloomy prediction for the future.

Mog Coin (MOG) has also lost 8.9% of its value, while POPCAT has lost 16.9%. Although MOG has a 13% inflow, POPCAT’s weekly flows are still in the red zone. Despite the asset’s recent modest moves, this illustrates its earlier growth.

CAT continued its weekly losses as WEN fell 16% and 8%, respectively, today. WEN manages to keep a 5.9% gain during that time. With a 16% increase in the past day, LMEOW is trading counter to the outflows. A number other memecoins have also experienced a 100X surge at this time.

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Dog-Themed Memecoins

Memecoins centered around dogs, like those centered around cats, are in the red zone. There has been a 6.6% drop in Dogecoin (DOGE) and a 1.8% drop in Shiba Inu (SHIB). In the same time frame, both Floki and dogwifhat experienced a 4.5% decline. Tokens with a canine motif typically maintain weekly gains, with some even surpassing 20%.

Among the top gainers today, KiboShib is up 46%, Cheems is up 28.9%, and Chinu is up 10%. Users may be shifting their focus to memecoins after KiboShib experienced a 68% increase this week.

Market sentiment toward memecoin and other cryptocurrencies as a whole, as well as macroeconomic factors that have both positive and negative side effects, are to blame for the current state of the market.

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