Oversold Meme Coins: Is It Time to Buy the Dip?

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Shiba Inu and Dogecoin crashed 14.87% and 15.73%, respectively.
The meme coin market cap declined by more than 14%.
The RSI for SHIB and DOGE has entered oversold levels.

Meme coins experienced a sharp sell-off in the past 24 hours, with popular tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) leading the decline. The total market capitalization of meme coins dropped over 14%, currently standing at $36.48 billion.

Meme coins have always been in the spotlight of the crypto market for their unprecedented gains and volatile nature. In this cycle, cryptocurrencies like Pepe (PEPE), Dogwifhat (WIF), Bonk (BONK), and Book of Memes (BOME) exceeded investors’ expectations.

As per the data on memecoins from CoinMarketCap, DOGE fell 15.73%, trading at $0.9624; SHIB fell 14.87% to $0.00001342; PEPE fell 16.25%, trading at $0.000008113; WIF fell 11.91%, trading at $1.61; BONK fell 12.21% to $0.00001947; and BOME fell 17.80%, trading at $0.006967. Another popular meme token, BRETT, crashed 21.73% and was priced at $0.1106 at the time of writing.

These meme tokens have seen significant growth since the …

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