Dogecoin, Shiba Inu lose value, new meme coins DOGS, SUNDOG, CAT rally up to 30%

Dogecoin (DOGE) and Shiba Inu (SHIB), the two largest meme coins in the crypto ecosystem, have erased over 3% of their value on Monday. Meme coins SunDog (SUNDOG) and Simon’s Cat (CAT), on the other hand, rallied over 30% in the last 24 hours per CoinGecko data. 

New meme coins steal the spotlight from blue-chip memes like DOGE and SHIB with double-digit gains for holders. 

Dogecoin and Shiba Inu bite the dust, while SUNDOG, CAT rally

SUNDOG and CAT rallied in the double-digits in the last 24 hours per CoinGecko data. Other lesser known meme coins Daddy Tate (DADDY), Fwog (FWOG), and Resistance Dog (REDO) extended gains by 20%, 28% and 46% in the same time frame. 

SUNDOG was launched by Justin Sun, the creator of TRON, and the Tron-based token was issued on the launchpad Sunpump. The meme coin amassed over $288 million in market capitalization since launch, as of August 26, 2024. 

Meme coin prices on CoinGecko

Dogecoin and Shiba Inu erased over 3% of their value on Monday and trade at $0.1070 and $0.00001468, respectively. 

DOGS listed on major exchanges, TON network faces stress test

DOGS is a meme coin native to the social messaging app Telegram and garnered a large user base through its tap-to-earn model. The TON community noted early on August 26 that the network could face a stress-test trying to keep up with a maximum of 10 million users trading DOGS simultaneously. 

Colin Wu, an Asian journalist, reported that slight delays in transaction processing are expected.