News
WIF, PEPE, FLOKI, SHIB in red as crypto market takes a breather
Vladislav Sopov
All major meme cryptocurrencies are losing value, while WIF and PEPE are the worst performers in the top 100
Continue reading U.TODAY
Google News
The largest meme cryptocurrencies are once again demonstrating more significant volatility than the rest of the cryptocurrency market. The overvalued cryptocurrency Dogwifhat (WIF), a flagship meme coin of the Solana (SOL) ecosystem, has fallen by more than 4.2% in the past 24 hours.
WIF, PEPE, FLOKI: Three Top Meme Coins Are Among the 10 Worst Performers on May 7
Today, May 7, 2024, the meme cryptocurrency segment is under pressure. All larger coins in this space show larger losses than the market benchmark.
Image by CoinGecko
Dogwifhat (WIF), the most popular Solana meme coin of Q4 2023, sees its market cap fall below $3.5 billion as it loses 4.2% overnight.
Pepe (PEPE), a major meme coin on Ethereum (ETH) and Arbitrum (ARB), is also among the worst performers, losing 3.9% in 24 hours.
Then, Floki (FLOKI), one of the largest dog meme-related cryptocurrencies, has seen 2.8% of its market capitalization erased in recent days.
Shiba Inu (SHIB) is also among the worst performers; its limit fell below $14 billion after prices fell 1.6%.
The cat-themed meme coin segment sends mixed signals
To provide some context, the overall cryptocurrency market capitalization is down just 1%. Therefore, Dogecoin (DOGE), with its losses of 0.5%, is the only major meme coin that outperformed the market.
In terms of meme segments, feline-themed coins are the ones suffering the most from the current price drop. They lost 7% overnight.
However, segment newcomer Catwifhat (CWIF), a WIF arm of Solana (SOL), has demonstrated a 75% increase in the last 24 hours. The token is already available on some centralized tier 2 crypto exchanges.
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.)