Floki (FLOKI) and Dogwifhat (WIF) Defy Market Dip to Rank Among Biggest Gainers Tuesday

Solana SOL/USD-based WIF emerged as the best-performing $1 billion capitalization memecoin in the last 24 hours.

Solana (SOL) based WIF emerged as the top-gaining memecoin among the $1 billion capitalization tokens, with trading volumes surging by almost 49% to reach $419 million. The dog-themed cryptocurrency snapped last week's downtrend to gain over 15% this week.

Among other memecoins, Ethereum (ETH) based FLOKI also recorded healthy gains of over 5%, with trading volumes more than doubling to reach $282 million in the last 24 hours. The coin, named after Tesla (NASDAQ:TSLA) CEO Elon Musk's Shiba Inu dog, gained over 10% since the week began.

FLOKI's surge comes amid the project's tie-up with the English Premier League, where the token and metaverse game Valhalla will be advertised across the franchise soccer league platforms.

The broader cryptocurrency market retraced on Tuesday as bankrupt cryptocurrency exchange Mt. Gox's transfer of $780 million in Bitcoin (BTC) triggered anxiety among investors.

The overall cryptocurrency market capitalization declined by 1.73% to reach $2.1 trillion in the last 24 hours, with Bitcoin and Ethereum experiencing significant falls.

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