🚨😳😳The cryptocurrency market is experiencing a severe downturn, with memecoins like PEPE, WIF, and BONK taking significant hits. 😳😳🚨🚨

Over the past 24 hours, the total market cap for memecoins has dropped by 5.6% to $37 billion. This decline has been led by Bitcoin (BTC), which has fallen from $60,721 to $54,313 in the same period.

### Memecoin Performance Over the Last 7 Days:

- Pepecoin (PEPE): Down by 42.56%

- Dogwifhat (WIF):Plummeted by 50.21%

- Bonk (BONK): Tumbled by 37.28%

Memecoin Liquidations:

In the past 24 hours, there have been significant liquidations in the memecoin market, especially in long positions:

1. Pepe ($PEPE):

- Total Liquidations: $5.90 million

- Long Orders: $3.76 million

- Short Orders: $2.13 million

2. Dogwifhat ($WIF):

- Total Liquidations: $4.25 million

- Long Orders: $3.56 million

- Short Orders: $681K

3. Bonk ($BONK):

- Total Liquidations: $656K

- Long Orders: $509K

- Short Orders: $147KFocus on Bitcoin (BTC):

Investors should monitor the Bitcoin (BTC) chart closely. If BTC drops below $53K, the market could see further significant declines.

Stay vigilant and prepare for potential volatility.

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