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FLOKI, WIF Meme Coins Hit by Market Apathy

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Freigeben: 2024-08-24 00:01:10
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Mid-cap meme cryptocurrencies Floki (FLOKI) and Dogwifhat (WIF) are on the list of the worst performing cryptos in the top 100 today.

FLOKI, WIF Meme Coins Hit by Market Apathy

Shiba Inu (SHIB) and Dogecoin (DOGE) price enjoyed a slight uptick on Aug. 23, 2024, whereas mid-cap meme cryptocurrencies Floki (FLOKI) and Dogwifhat (WIF) showed minimal losses.

Meme coins hit by market apathy

On Aug. 23, major meme cryptocurrencies, including Floki (FLOKI) and Dogwifhat (WIF), showed a decline in valuation.

According to CoinGecko tracker data, FLOKI showed the worst performance in the top 100, with a loss of more than 3.8%.

Meanwhile, Dogwifhat (WIF), the largest meme coin on Solana (SOL), experienced a 1% price drop overnight. It is now close to dipping below the $1.6 billion valuation level.

Hence, both Floki (FLOKI) and Dogwifhat (WIF) showed a poor performance over the last 24 hours. The market benchmark showed a loss of 0.2% for the day, while Bitcoin (BTC), the largest cryptocurrency, showed a gain of 0.3%.

In contrast, the largest meme coins in the segment, Shiba Inu (SHIB) and Dogecoin (DOGE), showed optimism with price surges of 1-2%.

Cat coins also showed a positive trend: Popcat (POPCAT) showed an 8% price increase, while Mog Coin (MOG) and Cat in Dogs World (MEW) surged by 3.5% each.

Tron (TRX) meme coin mania steals SHIB, WIF, DOGE's thunder

Despite mixed signals, the aggregated capitalization of the meme coin segment showed an increase of 4.5% over the last 24 hours, and trading volume also soared.

A large portion of liquidity from the meme coin segment was injected into the novel SunPump ecosystem, a cohort of tokens incubated by the new Tron-based meme crypto launcher. Endorsed by Justin Sun, it began operating two weeks ago.

However, in recent days, it managed to outshine its Solana-centric rival Pump.Fun in fees generated by almost 60%.

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