SHIB Rivals FLOKI, WIF in Red Amid Pale Market

Mid-cap meme cryptocurrencies Floki (FLOKI) and Dogwifhat (WIF) are on the list of the worst performing cryptos in the top 100 today. Besides general uncertainty, the largest meme coins are losing liquidity thanks to the growing euphoria around Tron's meme coin ambitions.

FLOKI, WIF meme coins hit by market apathy

Today, on Aug. 23, 2024, major meme cryptocurrencies, including Floki (FLOKI) and Dogwifhat (WIF), are losing their valuation. Floki (FLOKI), being down more than 3.8%, is the worst performer in the top 100, according to CoinGecko tracker data.

Image by CoinGecko

Dogwifhat (WIF), the largest meme coin on Solana (SOL), lost 1% of its price overnight and is close to dipping below $1.6 billion valuation level.

Therefore, both Floki (FLOKI) and Dogwifhat (WIF) are underperforming in the last 24 hours. The market benchmark lost 0.2% today, while Bitcoin (BTC), the largest cryptocurrency, is up by 0.3%.

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

Cat coins are also in green: Popcat (POPCAT) added 8% to its price, 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 is up by 4.5% in the last 24 hours; trading volume is also soaring.

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 started operating two weeks ago.

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