The once-dominant meme coins Dogecoin and Shiba Inu are facing stiff competition from newer entrants, who have outperformed them in terms of returns. The meme coin landscape is evolving rapidly, with fresh faces like Pepe, Floki, Bonk, and Dogwifhat stealing the spotlight. These up-and-coming meme coins have left the original leaders in the dust, nursing losses as they struggle to keep up.

Pepe, in particular, has been on a tear, with its price skyrocketing over 100% in the last month and reaching an all-time high above $0.00001. Its market cap has ballooned to $6.88 billion, making it the third-largest meme coin. The Pepe price has continued its upward trajectory, rising 48.6% in the last seven days alone, according to CoinGecko data.

Floki, another surprise package, has seen its market cap soar from below $500 million to over $2.5 billion in just a year. This remarkable recovery has propelled Floki to the 4th spot among meme coins, surpassing BONK. Floki's price has jumped over 100% this month, with a 30.6% increase in the last seven days, putting it within striking distance of its all-time high.

Bonk, meanwhile, has continued its upward march, clearing the resistance at $0.000036 and recording gains of 26.7% in the last week. With an 11.8% increase in the last day, Bonk now boasts a market cap of $780 million, placing it behind FLOKI but ahead of Book Of MEME (BOME).

Dogwifhat, the youngest of the bunch, has made significant strides in its short lifespan. In the last week, its price has dominated among meme coins, with a 1.1% increase, according to CoinGecko data. Although it has fallen behind PEPE and BONK, it remains far ahead of the struggling Dogecoin and Shiba Inu.

As the meme coin landscape continues to evolve, it's clear that new challengers are emerging, and the old guard is facing stiff competition. Will Dogecoin and Shiba Inu regain their footing, or will these new meme coins continue to steal the show? Only time will tell.