Meme Cryptocurrency Market Update

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 cryptocurrencies is bleeding today, Dec. 30, 2024. Its aggregated market capitalization plunged by almost 5%. Meme crypto market caps dipped below $105 billion, according to CoinGecko tracker. 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 a 4.8% loss in seven days. Shiba Inu (SHIB), the meme coin with the largest community, is down by 2.2%. The token of the Shib Army has left the top 15 cryptocurrencies by market cap.

Dogwifhat (WIF), the most hyped meme coin on the 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 demonstrated a stronger recovery impulse, adding 1.4% and 3.7% in the past seven days, respectively.

At the same time, newcomers are in the spotlight for the meme coin community. PENGU, the official meme coin of the Pudgy Penguins NFT collection, is up by over 15%. The token has already surpassed 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, has more than doubled its price in the last week, surging by 125% and jumping into the top 100 cryptocurrencies.