Popular Solana meme coin DogWifHat ($WIF) is taking a tumble today as falling crypto prices across the board drag many coin prices down.

In the last 24 hours, WIF has fallen 4.8% and currently trades at $2.80. That makes it the biggest intraday loser among the top seven meme coins by market capitalization. 

The market leaders’ depreciation over the same period was also more muted. Original cryptocurrency Bitcoin ($BTC) fell 2.5% and changes hands at $60,800. Ethereum ($ETH) only dropped 1.5% and currently trades for $2,956.

Original meme coin Dogecoin ($DOGE) tracked Bitcoin overnight and fell 3.2% to trade at $0.144 as of Thursday, May 05.

Meanwhile, Pepe Coin ($PEPE) actually rallied a bit.

The most popular coin honoring Pepe the Frog rose 0.2% to trade at $0.057923 as of this writing. 

DogWifHat is still the leading Solana meme coin with a market capitalization of nearly $3 billion. WIF’s two closest contenders, the $1.5 billion market cap bonk Bonk ($BONK) and the $720 million Book of Meme ($BOME), have both fallen 2-3%.

Over on WIF’s trading chart we can see the token rallied in step with broader market movements throughout March.

Unlike the market leaders, WIF continued rallying strongly at the end of March and actually rose to set a new all-time high of $4.83 on March 31. Today’s price represents a 42% decline since then. 

Source: TradingView

With a relative strength index (RSI) at 40 and climbing, WIF may have found the support it needs at its current price. This means that heavy further losses are unlikely going into the weekend.

Forget DogWifHat, Sealana is Solana’s Next Viral Meme Coin

DogWifHat is an adorable meme but it’s not exactly fresh. In a sector led by coins that have market caps in the tens of billions, it’s not likely to stand out over its more stalwart rivals.

Solana’s Sealana ($SEAL) the all-American redneck seal has already raised over a $300,000 in a hilarious new week-old presale. 

Sealana is a spin on South Park’s viral Gamer Guy, aka Fat Computer Nerd.

Gamer Guy appeared in the hit cartoon’s side-splitting World of Warcraft episode and became a viral meme all on his own thanks to his milk-bottle glasses, screen-locked stare, messy room and gravity-defying girth. 

He has symbolized anyone from the legions of disgruntled keyboard warriors writing sharp, acerbic opinions in internet comments sections, to a kind of Everyman – a symbol of the idler in everyone.

#Sealana, making #Memecoins great again!

Manifesto
1⃣ No Frogs
2⃣ Less Hats
3⃣ Many Whales
4⃣ Zero Rugs
5⃣ More $SEAL pic.twitter.com/FEImgpWxWz

— Sealana (@Sealana_Token) May 7, 2024

Sealana is Web3’s Everyman, beached at his desk and ballooning by the day. When he’s not making filthy degen trades, Sealana’s roving flippers reach for the sustenance of chips and tinned tuna. 

For every 1 SOL, investors get 6,900 $SEAL tokens after the ICO’s concludes. Users can pay using a widget on the website or by sending SOL from a decentralized wallet to this address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.

Follow the latest developments on Sealana’s X account.

Buy Sealana at the official website here. 

The post Is DogWifHat on the Brink? WIF Price Dips 5% as Focus Turns to This Other Solana Meme Coin appeared first on Cryptonews.