Dogwifhat (WIF), a Solana memecoin, has seen a 38% price drop over the past week, causing it to fall out of the top 50 cryptocurrencies by market cap. On June 23, its market cap decreased by 9% to $1.60 billion, allowing Fantom (FTM) to take its place in the top 50. Despite the drop, Dogwifhat remains the fourth largest memecoin by market cap, sitting below PEPE (PEPE) with nearly three times the market cap. The price drop has led to a 25% decrease in Open Interest (OI) for Dogwifhat, with futures traders seemingly hesitant to bet on its near-term direction.