Capybara is down by nearly 30% in 24-hour trading

Capybara token is down 29.2% in the last 24 hours of trading, even though the Solana-backed token is up 76% over the week.

According to Crypto.news data, Capybara (CAPY) token dropped by 29.2% in the past day. The animal-themed token is currently trading at $0.002478.

Despite the up and down situation it is currently in, CAPY has shown an upward trend, with its price increasing by nearly 80% in the last seven days. The Solana-based token even saw a 121.87% rise in the past month, but it seems to have reached the end of its rise.

Price chart of Capybara token over the last 24 hours of trading, November 27, 2024 | Source: CoinGecko

Featuring the cute South American native rodent, the token has a very similar experience to other animal-themed meme coins like MOODENG(MOODENG). Just a few days ago on November 22nd, CAPY experienced a meteoric rise, reaching an all-time high of $0.0191521. However, the token has struggled to climb to the top since then.

At the time of writing, the trading volume of the Capybara token stands at $4,538, down more than 50% compared to the previous day. However, the token has no visible market cap, so it is nowhere near the cryptocurrency rankings. Not only that, although CAPY’s total supply is 1 billion tokens, it does not have any tokens in its circulating supply.

X is being tweeted almost every minute, along with other meme coins like CAPY, CATI, HMSTR, DUCKS, and DOGS. Many of these tweets appear to be auto-generated by bots using random accounts.

On the official website Capybara World, the CAPY token is described as a community-oriented token inspired by “the most peaceful animal in the world.” Capybara token was launched in December 2021 and began trading on Raydium and dexlab.

Over the years, the capybara has become one of the internet’s most beloved animals. According to the South China Morning Post, there has been an influx of capybara content on various social media platforms such as Instagram, TikTok and YouTube. The capybara is known for its relaxed and calm demeanor and has become a symbol of peace and tranquility.