Crypto News – Solana-based Dogwifhat (WIF), which continued to decline from its all-time high set on March 31st, plummeted double digits overnight.
Fall in Meme Coins: Dogwifhat and Many Meme Coins Down at Least 5% Today
According to statistics from CoinGecko, the cryptocurrency is presently trading at $3.37, down 12.7% on the day and 10.4% on the week.
Dogecoin (DOGE) has dropped 4.9%, Floki Inu (FLOKI) has dropped 8.09%, Shiba Inu (SHIB) has dropped 2.70, and BONK has dropped 8.05% over the last day. Other coins with dog themes have also struggled. In the meme space, the Solana-based Book of Meme (BOME) is down 14.48% to trade at $0.01374, while PEPE is down 6.45% on the day.
Price Performance of Meme Coins Parallel to Bitcoin
After Bitcoin dropped to $65,000 earlier this week, it is part of a larger trend of meme coins retreating from last week’s surge. Overall, according to CoinGecko data, the meme coin category has decreased by 18.5% in the last week.
Though that decline must be viewed in perspective, Dogecoin surged to over $0.20 for the first time since 2021 just over a week ago. On the 31st of March, WIF reached an unprecedented peak. Solana has become a hub of trading activity as the meme coin asset class has increased in tandem with Bitcoin’s price explosion this year.
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