FLOKI, WIF Meme Coins Hit by Market Apathy

Mid-cap meme cryptocurrencies Floki (FLOKI) and Dogwifhat (WIF) are on the list of the worst performing cryptos in the top 100 today.

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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