Solana Meme Coins Rally Over? WIF, BONK, BOME Close Week in Red

The euphoria around meme cryptocurrencies on the Solana SOLUSD blockchain seems to be losing its momentum. In the last seven days, almost all of them witnessed double-digit losses.

Solana SOLUSD meme coins: 19 of 20 largest cryptos close week in red

The last seven days brought significant losses to the segment of Solana SOLUSD meme cryptocurrencies. Shiba Inu SHIBUSD competitors on Solana SOLUSD lost 25% on average, with Peng (PENG) and Book of Meme (BOME) being the worst sufferers.Image by CoinGecko

It should also be noted that Dogwifhat (WIF), a flagship cryptocurrency of the segment, demonstrated strong performance amid the collapse.

It only lost 5.3%, while its rivals in the top 25 posted double-digit losses.

The newest large-cap meme coin on Solana SOLUSD, Book of Meme (BOME), said farewell to over one third of its USD-denominated value and left the top-100 rankings of altcoins with the biggest market cap.

Solama (SOLAMA), the only llama-themed meme coin on Solana SOLUSD, surprisingly is the only cryptocurrency in this segment that closes the week in green. Its price jumped by almost 28% in the last 24 hours.

Solana SOLUSD meme cryptos recovery lagging behind market

However, after the painful collapse, Solana SOLUSD meme coins started showing first signs of recovery. The entire segment added 1.2% in the past day, while its capitalization exceeded $5.68 billion.

To provide context, other segments added 3.5% in the corresponding period.

The meme coins scene increased its capitalization by 3.3%, with Dogecoin DOGEUSD, Memecoin (MEME) being the best performers.