The meme coin market plunged over 7% after Dogwifhat (WIF), Ai16z (ZI16Z) and Fartcoin (FARTCOIN) all plummeted, while Pippin (PIPPIN), Department Of Government Efficiency (DOGE) and Akuma Inu (AKUMA) were able to defy the downtrend.
The drop in the collective meme coin capitalization comes amid a broader market correction, which saw the digital asset sector shed more than 3% of its total valuation.
WIF, AI16Z and FARTCOIN Lead The Meme Coin Market Bloodbath
Canine-themed Solana meme coin WIF saw its price drop more than 14% in the last 24 hours, adding to its weekly woes in the process. As a result, the crypto is over 18% in the red on the 7-day chart to trade at $1.58 as of 3:12 a.m. EST.
Similarly, the 8th largest meme coin by market cap, AI16Z, plummeted over 21% to extend its negative weekly streak. Meanwhile, FARTCOIN shed more than 17% of its value amid the recent market pullback to trade at $0.8664.
PIPPIN, DOGE And AKUMA Buck The Trend While Presale Tokens Flourish
While the majority of the meme coin market bled, PIPPIN delivered a standout performance in the last 24 hours. After soaring more than 73%, the token managed to claim the title as the best 24-hour performer in the meme coin market.
AKUMA also delivered an impressive 24-hour performance, with its price surging 21%. This shoved its positive weekly performance further into the green to more than 293%. DOGE was also able to withstand the slump to post a 5% gain.
Sheltering From The Meme Coin Market Storm
With the broader crypto sector correcting, investors might opt to turn to presale tokens that are not yet tradable on the open market to shelter from the storm while also positioning for future upside.
New Pepe derivative Wall Street Pepe (WEPE) , which has already raised more than $44.5 million, is an analyst favorite that’s on track to be one of the most successful ICOs of all time.
Another presale crypto that continues to outperform is the first Solana layer-2 meme coin Solaxy (SOLX) , which has already passed $9.3 million in funding.
Vote-to-earn crypto Flockerz (FLOCK) is also surging toward $10 million in funds raised in its ICO. It is set to list in about 13 days.
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