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While the entire cryptocurrency segment is in the middle of a modest correction, the meme cryptocurrency segment has taken a hit. Its daily performance looks even weaker compared to the market benchmark, but ambitious newcomers bring some optimism.
Meme coins lost 5% of market cap in 24 hours
The segment of meme cryptocurrences is bleeding today, Dec. 30, 2024. Its aggregated market capitalzation plunged by almost 5%. Meme crypto market caps dipped below $105 billion, CoinGecko tracker says. Meanwhile, the market benchmark only lost 4.6% in the corresponding period.
The top 10 largest meme coins are sending mixed signals to the community in recent days. While all of them are in red on the 24-hour time frame, weekly performance reveals a different picture.
Based Brett (BRETT) is the worst performer in the top league, with 4.8% lost in seven days. Shiba Inu (SHIB), the meme coin with the largest community, is down by 2.2%. The token of the Shib Army left the top 15 cryptocurrencies by market cap.
Dogwifhat ($WIF), the most hyped meme coin on Solana (SOL) blockchain, is also in red, with 1.9% of its market cap erased overnight, while Mog Coin (MOG) is down by 2%.
Pepe (PEPE) and Bonk (BONK), other major meme coins, managed to stay in the green but added less than 1% each in the last week.
Top 100 newcomers $PENGU, AI16Z outperform majors
Dogecoin (DOGE) and Floki Inu ($FLOKI) have demonstrate a stronger recovery implulse, with a respective 1.4% and 3.7% added in seven days.
At the same time, newcomers are in spotlight for the meme coin community. $PENGU, an official meme coin of Pudgy Penguins NFT collection, is up by over 15%. The token is already bigger than $WIF and $FLOKI despite being in its very infancy.
Also, AI16Z, a meme coin associated with the first-ever DAO governed by autonomous AI agents, more than doubled its price in the last week. In seven days, it surged by 125% and jumped into the top 100 cryptocurrencies.