Solana meme tokens collapse after December pump

2024-01-08 04:26:59

The prices of most meme tokens in the Solana eco – BONK, WIF, ANALOS, and others – have almost halved over the past month.

According to the CoinGecko service, the Dogwifhat (WIF) token, launched in November 2023, showed a significant drawdown – 76% from its maximum at $0.33. At the time of writing, the asset is trading at $0.08. The coin’s market capitalization also fell from $324 million to $78 million.

Source: CoinGeckoAnother token that has received particular recognition from cryptocurrency enthusiasts, Bonk (BONK), has fallen 70% from its December highs. The asset is currently trading at $0.00001018. The fall was accompanied by a reduction in capitalization (from $1.5 billion to $620 million) and trading volumes.

Another new meme coin that has become a parody of Solana, AnaloS (ANALOS), recorded a drawdown of 92% from its December all-time high. Despite the quote decline, the asset demonstrates a high trading volume of $26 million.

At the same time, the new token PEPECOIN on SOL (PEPE), launched at the end of December, became the top gainer. Over the past 24 hours, the token has risen by 94%, reaching a price of $0.002414.

Source: CoinGeckoMeanwhile, the naive Solana blockchain token, SOL, witnessed significant declines over the past week after registering consistent gains in December 2023. Over the past 24 hours, the token price has fallen by more than 2%, reaching $92.49 after multi-month highs in December.

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