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Rival SHIB WIF is the worst in the Top 100 due to the decline in cryptocurrencies
Vladislav Sopov
Amid painful liquidations, the largest meme coins collapse, with WSB cryptocurrencies posting double-digit losses
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Amid the most painful collapse since mid-April, meme cryptocurrencies posted double-digit losses. Dogwifhat (WIF) and Bonk (BONK) fell below major capitalization levels.
WIF Collapses: Worst Performing Cryptocurrency Over Last 24 Hours Dropped 18%
Dogwifhat (WIF), a mid-cap meme cryptocurrency and the fourth largest digital asset in this category, is showing the largest 24-hour losses out of all top 100 cryptocurrencies on CoinGecko.
Image by CoinGecko
Dogwifhat (WIF) capitalization fell below the significant level of $3 billion. WIF is one step away from being replaced by FLOKI as the fourth largest meme coin.
The largest meme coins – Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) – are faring much better, with losses of 9.7%, 7.5% and 11.3% respectively.
In total, meme coin traders have lost at least $20 million in long positions over the past 24 hours due to liquidations, CoinGlass data He says. The net settlement amount exceeded $415 million in equivalent, the largest since April 13, 2024.
The aggregate cryptocurrency market capitalization lost 3.2%, while Bitcoin (BTC), the largest cryptocurrency, fell 3.5% in the past 24 hours.
WSB meme coins lost 30% in 24 hours
At the same time, even in this painful collapse, small-sized meme coins are demonstrating astonishing gains. For example, the Base meme Basenji (BENJI) cryptocurrency increased by 33% in one day and reached a capitalization of $70 million. Chompcoin (CHOMP) gained 20%.
However, amid general disappointment over the highly anticipated stream of Roaring Kitty, an iconic “Reddit investor” influencer, WallStreetBets-themed meme coins are bleeding.
GME, a meme coin commemorating a stock of the same name, plunged 33% and nearly left the nine-figure coin club.
About the author
Vladislav Sopov
Blockchain analyst and writer with scientific background. 6+ years in IT analytics, 3+ years in blockchain.
He has worked in independent analyzes and start-ups (Swap.online, Monoreto, Attic Lab etc.)