Meme Cryptos Are Underperforming Today: BONK (BONK) and Pepe (PEPE) Are Dumping

As cryptocurrency markets are stagnant, the meme cryptos segment is underperforming today. Bonk (BONK) and Pepe (PEPE), large community-driven meme coins, are in the red. By contrast, smaller cryptocurrencies like Pudgy Penguin (PENGU) are rocketing.

Meme crypto segment lags on Wednesday as BONK price falls 4.6% and PEPE drops 3.1%

Meme cryptos are trading in the red on Wednesday, May 3, with some of the largest community-driven tokens like Bonk (BONK) and Pepe (PEPE) falling. Smaller cryptocurrencies, like Pudgy Penguin (PENGU), are performing better.

Among the meme crypto price changes, Bonk (BONK) is among the worst performers. One of the largest meme coins lost over 4.6% of its capitalization overnight. As the Bonk (BONK) price dropped to weekly lows at $0.0000178, its capitalization slid to $1.46 billion.

Pepe (PEPE), the first-ever frog coin, is also down today. In the last 24 hours, PEPE's price is down by over 3.1%. As PEPE dips below $0.000008491, its capitalization is close to multi-week lows at $3.5 billion.

The largest meme cryptocurrencies are showing strength. The Dogecoin (DOGE) price lost 0.9%, while the Shiba Inu (SHIB) price plunged to $0.001323. Shiba Inu (SHIB) is on the verge of losing its position in the top 20 cryptocurrencies by market cap.

In the segment of smaller cryptocurrencies, some assets are outperforming. NFT-associated meme coin Pudgy Penguin (PENGU) added 12% overnight. The market benchmark is down by 2.1%; the overall capitalization of digital assets hit $3.1 trillion in equivalent.

Bitcoin ETFs AUM over $115 billion, highest since mid-February

Meanwhile, both Bitcoin (BTC) and Ethereum (ETH) are trading in green. The largest cryptocurrencies are up by 0.1%. Bitcoin (BTC) investors may be getting more optimistic as ETFs's flow is positive for the third day in a row.

According to CoinGlass data, Bitcoin-based spot ETFs in the U.S. saw their AUM metric surging for almost three weeks. The aggregated AUM of Bitcoin ETFs soared from $91 billion to over $115 billion, adding 26.4% in days.

In yesterday's session, for the first time in two weeks, investors managed to increase Bitcoin (BTC) spot ETFs AUM by over $100 million in 24 hours.

Bitcoin (BTC) is changing hands at $96,283 at the time of writing.