Table content
## Meme Token Debacle: DOGE and SHIB in Difficulty, FLOKI Plummets
Ouch! It’s a difficult period for meme tokens, with the major players DOGE and SHIB faring poorly.
Presently, Shiba Inu (SHIB) and Dogecoin (DOGE), the two largest meme digital currencies by market capitalization, are encountering difficulties. Even prior high-achievers such as Dogwifhat (WIF), Floki (FLOKI), and SPX6900 (SPX) are losing impetus and declining in the standings.
## DOGE and SHIB: Meme Token Titans Trailing
The leading meme tokens are enduring a thrashing, with DOGE and SHIB among the poorest performers in the top 100. Dogecoin (DOGE), the original meme token, has decreased by 3.4%, its value plummeting to $0.1676 and erasing a staggering $875 million in market capitalization overnight.
Shiba Inu (SHIB) is being impacted even more severely, declining 4.1% in the past 24 hours and being surpassed by Sui (SUI) as the 22nd largest altcoin. Despite some increases over the prior week, SHIB’s value has plunged to $0.00001265 presently.
Pepe (PEPE), the third-largest meme token, is additionally experiencing the discomfort, decreasing 3.3% presently. Concurrently, the overall market has decreased by 2.8%, with a total market capitalization of $2.79 trillion.
Even Bitcoin (BTC) and Ethereum (ETH) have decreased, but only by 0.7%, outperforming the meme token market. The digital currency market witnessed a total of $200 50x ETH Earns .06 Million in 3 Days by Betting Against Bitcoin in liquidations, predominantly from long positions, with meme token longs accounting for over 20% of that sum.
## FLOKI, WIF, SPX: Meme Token Icons Diminishing
The discomfort isn’t restricted to the prominent names. Mid-sized meme tokens are additionally suffering, with Pudgy Penguins (PENGU) enduring the second-largest impact in the top 200, decreasing a staggering 12%. It appears as though all the major meme tokens are in the red this cycle.
The crypto dog arena is experiencing challenging times! Dogwifhat’s (WIF) market capitalization decreased by 5% overnight, and SPX6900 is also showing signs of struggle, falling by 4.7% as trading volumes decline.
Even Floki, formerly the dominant player, is feeling the strain, dropping by 2.7% and presently valued at $0.00006038.
* **Unfavorable Sentiment:** Dogecoin (DOGE) and Shiba Inu (SHIB) are facing significant difficulties, suffering the most substantial losses.
* **Diminished Prominence:** Floki, WIF, and SPX, previously popular entities in the crypto space, are now finding it difficult to maintain their position.
