News
Worst Performing SHIB Rival WIF in Top 100 as Crypto Dips
Vladislav Sopov
Amid painful sell-offs, biggest meme coins plummet, with WSB cryptocurrencies posting double-digit losses
Read U.TODAY at
google news
Amid cryptocurrencies’ most painful crash since mid-April, meme cryptocurrencies posted double-digit losses. Dogwifhat (WIF) and Bonk (BONK) have fallen below major capitalization levels.
WIF Collapses: Worst Performing Crypto in Last 24 Hours Drops 18%
Dogwifhat (WIF), a mid-cap meme cryptocurrency and the fourth largest digital asset in this category, demonstrates the largest 24-hour losses compared to all of CoinGecko’s top 100 cryptocurrencies.
Image by CoinGecko
The capitalization of Dogwifhat (WIF) fell below the significant level of $3 billion. WIF is one step away from being replaced by FLOKI as the fourth largest meme coin.
The biggest meme coins – Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE) – are performing much better, with respective losses of 9.7%, 7.5% and 11.3%.
In total, meme coin traders lost at least $20 million on long positions in the last 24 hours due to liquidations, CoinGlass data it says. The net value of settlements exceeded the equivalent of US$415 million, the highest since April 13, 2024.
The aggregate crypto market capitalization lost 3.2%, while Bitcoin (BTC), the largest cryptocurrency, fell 3.5% in the last 24 hours.
WSB meme coins lost 30% in 24 hours
At the same time, even in this painful collapse, small-cap meme coins are demonstrating surprising gains. For example, the cryptocurrency Base meme Basenji (BENJI) increased by 33% in one day and reached a capitalization of $70 million. Chompcoin (CHOMP) added 20%.
However, amid the general disappointment surrounding the long-awaited stream of Roaring Kitty, an iconic “Reddit investor” influencer, WallStreetBets-themed meme coins are bleeding.
GME, a meme coin that commemorates a stock of the same name, plummeted 33% and almost left the nine-digit coin club.
About the author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. More than 6 years in IT analysis, more than 3 years in blockchain.
He worked on independent analyzes and also on start-ups (Swap.online, Monoreto, Attic Lab, etc.)