English
Arabic
Chinese (Simplified)
Indonesian
Russian
- Meme cash DOGE and SHIB crashed 6.01% and 6.13%, respectively.
- Bitcoin (BTC) dropped to the $100,000 value stage as nicely.
- Prior to now 24 hours, over $681.11 million in lengthy positions had been liquidated.
Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) — the highest meme cash available in the market — have taken a significant hit, with DOGE and SHIB down over 6% and PEPE plummeting nearly 11%.
In line with CoinMarketCap knowledge, all meme cash have dropped by double-digital percentages within the final seven days after rising considerably prior to now few months. The meme coin crash adopted a broader market crash with Bitcoin (BTC) dropping to the $100K value stage and Ether (ETH) buying and selling at $3,600.
Nonetheless, meme cash are an integral a part of the digital asset area and have a large market cap of $117.4 billion. So, this might probably be a shopping for alternative for the top-performing meme cryptocurrencies regardless of a broader market downturn. With a considerable $24.8 billion being traded within the meme coin area prior to now 24 hours, the curiosity within the sector stays excessive.
Apparently, the one meme coin that’s bullish on the time of writing is Pudgy Penguins (PENGU) which has skyrocketed 549.42% within the final seven days and seven.62% prior to now 24 hours. The digital asset is buying and selling at $0.03221 on the time of writing.
Learn additionally: Solana Meme Cash: A Dangerous Gamble
Why are Meme Cash Falling?
Meme cash crashed as a result of main digital property Bitcoin and Ether dropped considerably and altcoins additionally fell. Plus, a whopping $681.11 million in lengthy positions had been liquidated prior to now 24 hours, a lot increased than $121 million briefly positions, based on knowledge from Coinglass.
The crash additionally follows current feedback from US Federal Reserve Chair Jerome Powell who spoke out towards making a nationwide Bitcoin reserve. Plus, for 2025, the company plans to implement considerably fewer charge cuts than anticipated, which additionally resulted in bearish sentiment throughout the crypto market.
Disclaimer: The data introduced on this article is for informational and academic functions solely. The article doesn’t represent monetary recommendation or recommendation of any variety. Coin Version isn’t liable for any losses incurred because of the utilization of content material, merchandise, or providers talked about. Readers are suggested to train warning earlier than taking any motion associated to the corporate.