Meme Coin Price Drop Continues, Data Says – TradingView News

It seems that the euphoria around meme coins may finally have died down. Of the 10 worst performing categories on CoinGecko, five are associated with meme cryptocurrencies. At the same time, the most painful losses are associated with small-cap companies.

Base, Solana Meme Coin Ecosystems Bleeding: Double-Digit Losses Recorded in 24 Hours

In the last 24 hours, amidst the general apathy of the cryptocurrency market, coins associated with memes are once again the ones suffering the most. Two ecosystems demonstrated the worst performance metrics. Meme Coins on Base, a Coinbase L2 for Ethereum ETHUSDit lost more than 18% of value overnight. Image by CoinGecko

The aggregate capitalization of the 38 largest Base meme coins fell to $142 million. The price of meme coin Brett (BRETT) has fallen by more than 40%.

Solana’s SOLUSD The meme coin segment erased 12.6% of its value. The net market capitalization of Solana-based meme cryptocurrencies is just over $1.67 billion.

Additionally, cat-themed meme coins and BRC-20 assets (some tokens in this category are also associated with memes) are among the worst performers.

While the value of cat coins plummeted by 8.8%, BRC-20 cryptocurrencies lost 8.7% of the total value.

Liquidated DOGE, WIF and BONK positions worth $8.5 million, mostly long

This drop in the meme coin sphere triggered eight-figure liquidations on the futures markets. Dogemoneta DOGEUSDDogwifhat WWIFBonk (BONK) and Pepe PEPEUSDT they are the worst sufferers here.

With a total of $150 million liquidated in the last 24 hours, the three largest meme coins are responsible for an equivalent loss of $8.5 million.

Over 80% of this sum should be attributed to long positions.

According to the data, the total capitalization of the cryptocurrency market decreased by 2%.

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