The memecoin craze on the Solana SOL/USD blockchain appears to be hitting a rough patch, with popular memecoins losing substantial gains over the past 24 hours.

What Happened: Meme coin BOME saw its price plummet by nearly 50% in the past 24 hours, pushing its market capitalization below $500 million.

This sharp decline wasn’t an isolated incident, with other prominent memecoins like Pepe PEPE/USD, Dogwifhat WIF/USD, Floki Inu FLOKI/USD and Bonk BONK/USD all experiencing significant price drops of around 20% within the same timeframe.

In contrast to the falling fortunes of these digital assets, Slerf, another meme coin on the Solana network, has seen its market value soar to $612…

Read more on Benzinga