Dog-themed Meme Coins V Solana Tokens: Bulls Eye Huge Gains

Dog-Themed Meme Coins and Solana Tokens Show Market Fluctuations

Amidst a sideways market trend, dog-themed meme coins experienced gains and losses that ultimately balanced out. The broader crypto market followed suit, with initial price surges followed by fluctuations. The market capitalization remains around $2.26 trillion.

Meme Coins See Inflows

Meme coins recorded capital inflows this week, raising their market cap to $49.6 billion. However, recent losses have erased those gains. Despite this setback, certain subcategories of meme tokens have fared better.

Dog-Themed Meme Coins' Mixed Performance

Leading dog-themed meme coins and Solana tokens saw mixed performance. Dogecoin (DOGE) and Shiba Inu (SHIB) traded negatively last week, but the market cap has since risen slightly to $35.2 billion with daily trading volumes exceeding $2 billion.

Dogo Token, DogWifNoHat, and DogeVerse were among the top gainers in the past 24 hours. Dogo Token surged an impressive 790%, pushing its weekly gains to 2970%. DogWifNoHat and DogeVerse also witnessed gains of 46% and 43%, respectively.

Conversely, outflow activity pushed DOGE and SHIB downwards. DOGE dropped 0.8% weekly and 1.1% today, while SHIB experienced 4% weekly outflows and 2.4% today.

Dogwifhat (WIF)

Dogwifhat (WIF) reversed its weekly losses, with bulls driving gains of 7% in mid-week trading.

Solana Meme Coins Gain Traction

In contrast, Solana meme coins experienced a surge, supported by SOL's trading activity. Solana tokens gained 4.6% today, indicating bullish sentiment. Recent upticks were fueled by spot ETF applications in the United States.

Kamala Horris and MAGA PEPE topped the gainers list, with inflows of 77% and 22.2%, respectively. However, larger assets like dogwifhat, BONK, and BOME faced declines of 7%, 4.6%, and 8.2%.

Conclusion

Dog-themed meme coins and Solana tokens have shown diverse performance in a fluctuating market. While certain subcategories experienced upticks, larger assets faced outflows. As the market direction remains uncertain, investors should exercise caution and monitor market developments closely.