SHIB Rivals FLOKI, WIF in Red Amid Pale Market
Release: 2024/08/23 21:54 Reading: 447
Mid-Cap Meme Cryptocurrencies Struggle Amidst Market Volatility
Major meme cryptocurrencies Floki (FLOKI) and Dogwifhat (WIF) have underperformed in recent days, ranking among the worst performers in the top 100.
Market Impact
FLOKI has experienced a significant decline, dropping over 3.8%, making it the worst performer in the top 100. Dogwifhat, the largest meme coin on Solana, has lost 1% of its value, approaching a valuation of $1.6 billion.
In contrast, Shiba Inu (SHIB) and Dogecoin (DOGE), the top meme coins in the market, have shown resilience with price increases of 1-2%. Cat-themed coins Popcat (POPCAT), Mog Coin (MOG), and Cat in Dogs World (MEW) have also witnessed upward moves.
Tron's Meme Coin Influence
Despite the mixed market sentiment, the meme coin segment has experienced a 4.5% increase in capitalization and a surge in trading volume. A significant amount of liquidity has been diverted to Tron's SunPump ecosystem, a collection of meme tokens launched by a Tron-based platform.
SunPump has recently outperformed its rival, Solana-centric Pump.Fun, in generated fees by almost 60%.
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