Solana memecoins are taking hits in the market following wider cryptocurrencies recording liquidations in the last 24 hours. A glance at cryptocurrency charts shows sharp outflows from Bitcoin (BTC), altcoins, and memecoins. The reduced investor sentiment can also be seen in the declined number across decentralized finance protocols.
Solana memecoins have slumped 15% in the last 24 hours after weeks of rapid highs which sparked a frenzy in social spaces. The fall places the market cap of Solana memecoins at $7.9 billion with a $2 billion daily trading volume. Leading asset dogwifhat is down 15.6% today holding on to a 17% gain this past week. Similarly, BONK has lost 11.5% of its value and a much larger 14% this week.
Solana Memecoins in the Red Zone
Assets like Popcat and Myro have also posted losses of over 20% signaling weakened market sentiment in memecoins. Despite sharp exits, BOME and MEW remain the few top Solana memecoins to record gains in the last 24 hours. The assets gai
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