Summary
TLDR: Meme coins, particularly dog-themed ones, have been dropping in value over the past day, with Dogwifhat (WIF) down 15.9%. Other coins like Dogecoin, Floki Inu, and BONK have also seen declines. This comes after a broader trend of meme coins retracing from last week’s rally, as Bitcoin’s price slipped. Despite recent drops, meme coins have risen alongside Bitcoin’s surge this year, with Solana becoming a popular trading platform for these coins.
Key Points
1. Dogwifhat (WIF) dropped double-digits overnight, down 15.9% on the day and 10.4% on the week, trading at $3.26.
2. Meme coins like Dogecoin (DOGE), Floki Inu (FLOKI), and BONK have also experienced declines, with only Shiba Inu (SHIB) trading flat on the day.
3. The broader meme coin category has dropped by 18.5% over the past week, following a rally last week that saw coins like Dogecoin and WIF reach new heights.