The euphoria around meme cryptocurrencies on the Solana (SOL) blockchain appears to be losing momentum. In the last seven days, almost everyone witnessed double-digit losses.
The euphoria around meme cryptocurrencies on the Solana (SOL) blockchain appears to be losing momentum. In the last seven days, almost everyone witnessed double-digit losses.
Solana (SOL) meme coins: 19 of the 20 largest cryptocurrencies close the week in the red
The last seven days brought significant losses to the Solana (SOL) meme cryptocurrency segment. Shiba Inu (SHIB)’s Solana (SOL) competitors lost 25% on average, with Peng (PENG) and Book of Meme (BOME) suffering the most.
It is also worth noting that Dogwifhat (WIF), a flagship cryptocurrency of the segment, demonstrated strong performance amid the crash.
It only lost 5.3%, while its top 25 rivals posted double-digit losses.
The newest large-cap meme coin on Solana (SOL), Book of Meme (BOME), shed more than a third of its dollar-denominated value and dropped out of the ranking of the top 100 altcoins with the largest market cap.
Solama (SOLAMA), the only flame-themed meme coin on Solana (SOL), is surprisingly the only cryptocurrency in this segment to close the week in the green. Its price rose almost 28% in the last 24 hours.
Solana (SOL) Meme Crypto Recovery Lags Market
However, after the painful collapse, Solana (SOL) meme coins began to show the first signs of recovery. The entire segment added 1.2% in the last day, while its capitalization exceeded $5.68 billion.
For context, other segments added 3.5% in the corresponding period.
The meme coin scene increased its capitalization by 3.3%, with Dogecoin (DOGE) and Memecoin (MEME) being the best performers.
