Why are memecoins down today

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Memecoins underperform the wider crypto market after double-digit weekly losses surpass the sell-off in BTC and ETH.

Dogecoin , Shiba Inu and Dogwifhat (WIF) corrected sharply as the entire cryptocurrency market sold-off on Aug. 2. 

Data from CoinMarketCap shows that the total market capitalization of memecoins has dropped in the last 10 days, falling 21.5% from $54.70 billion on July 22 to $42.91 billion on Aug. 2.



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