Floki and dog hat defied the broader market decline to rank among the biggest cryptocurrency market winners on Tuesday.
What happened: Solana SOL/USDCryptocurrency-based WIF emerged as the best-performing $1 billion memecoin over the past 24 hours. Trading volumes increased by nearly 49% to $419 million.
The dog-themed cryptocurrency broke last week's downtrend to rally 15% this week.
| Cryptocurrency | Earnings +/- | Price (Recorded at 11:55 pm EDT) |
| dog hat WIF/USD | +5.43% | $1.53 |
| Floki FLOKI/USD | +5.23% | $0.0001245 |
Ethereum Ethereum/USDCryptocurrency-based FLOKI also posted healthy gains of over 5%, with trading volume more than doubling to $282 million over the past 24 hours. The coin, named after the Tesla Executive Director By Elon Musk The Shiba Inu dog is up 10% since the start of the week.
See also: Bitcoin Looks Bearish While Stocks Are At All-Time Highs: What's Going On?
Why it is important: FLOKI's rise came amid the project's partnership with the English Premier League, under which the metaverse's token and game, ValhallaIt will be announced on all platforms of the franchise football league.
The broader cryptocurrency market fell on Tuesday due to the bankruptcy of a cryptocurrency exchange Mount Gox The transfer of $780 million in Bitcoin sparked anxiety among investors.
The overall cryptocurrency market capitalization decreased by 1.73% to $2.1 trillion over the past 24 hours, with Bitcoin BTC/USD and Ethereum Ethereum/USD experiencing significant declines.
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