Shiba

Arbitrum

Solana

Pepe

Shiba Inu

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The largest meme cryptocurrencies are yet again demonstrating more significant volatility compared to the rest of the cryptocurrency market. Overhyped cryptocurrency Dogwifhat (WIF), a flagship meme coin of the Solana (SOL) ecosystem, is down by over 4.2% in the last 24 hours.
<h2 id="wif-pepe-floki-three-major-meme-coins-are-amid-10-worst-performers-on-may-7">WIF, PEPE, FLOKI: Three major meme coins are amid 10 worst performers on May 7</h2>
Today, May 7, 2024, the segment of meme cryptocurrencies is under pressure. All of the largest coins in this sphere demonstrate larger losses compared to the market's benchmark.
<img alt="Meme crypto coins losing value on May 7" data-entity-type="file" data-entity-uuid="02f25430-eeec-4a06-a900-c5bec0e4b50b" src="https://u.today/sites/default/files/inline-images/48061_1.png">Image by <a href="https://www.coingecko.com/">CoinGecko</a>
Dogwifhat (WIF), the most popular Solana meme coin of Q4, 2023, sees its market cap plunging below $3.5 billion as it loses 4.2% overnight.
Pepe (PEPE), a major meme coin on Ethereum (ETH) and Arbitrum (ARB), is also among the worst performers, with 3.9% lost in 24 hours.
Then, Floki (FLOKI), one of the largest dog-themed meme cryptos, has seen 2.8% of its market capitalization erased in the past day.
Shiba Inu (SHIB) is also among the worst performers; its cap dropped below $14 billion after s 1.6% price plunge.
<h2 id="cat-themed-meme-coin-segment-sends-mixed-signals">Cat-themed meme coin segment sends mixed signals</h2>
To provide context, the overall capitalization of the cryptocurrency market is only down 1%. As such, Dogecoin (DOGE), with its 0.5% losses, is the only major meme coin that has outperformed the market.
In terms of meme segments, cat-themed coins are the worst sufferers of the current price drop. They lost 7% overnight.
However, the segment's newcomer Catwifhat (CWIF), a WIF off-shoot from Solana (SOL), demonstrated 75% jump in the past 24 hours. The token is already available on some tier-2 centralized crypto exchanges.

WIF, PEPE, FLOKI, SHIB in Red as Crypto Market Takes Breath

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