Worst-Performing Meme Coins: WIF and SHIB Lead the Decline

Data from cryptocurrency analytics platform Lookonchain reveals that dogwifhat (WIF) and Shiba Inu (SHIB) are among the worst-performing meme coins, having declined by 70.93% and 70.86%, respectively, from their 52-week highs. Earlier this year, WIF, a Solana-based meme coin, gained significant attention with a massive rally, reaching a peak of $4.83 on March 31.

However, since then, WIF has experienced a steep drop of over 70.5%. Despite this decline, some experts remain optimistic. As reported by U.Today, former Goldman Sachs analyst Murad Mahmudov predicts that WIF could still emerge as a significant Solana winner by 2025, despite losing its bullish momentum.

This aligns with cryptocurrency research firm Cryptonary’s “base case” projection of $10 for the popular meme coin.

Meanwhile, SHIB reached its peak price of $0.0000456 on March 5 but has since lost its impressive gains. The self-proclaimed “Dogecoin killer” has fallen 84.6% from its all-time high, which was achieved nearly three years ago.

The underperformance isn’t limited to WIF and SHIB; other leading meme coins have also struggled. Dogecoin (DOGE), the top meme coin by market cap, is down 57.93% from its 52-week high, while Pepe (PEPE), another major player in the sector, has plummeted by over 58%.