Biggest meme coin plummets amid painful liquidation, WSB crypto sees double-digit losses
Meme cryptocurrencies are seeing double-digit losses in the worst crypto crash since mid-April. Dogwifhat (WIF) and Bonk (BONK) are falling below major market cap levels. WIF Crash: Worst Performing Crypto in the Past 24 Hours Down 18% Dogwifhat (WIF), a mid-cap meme cryptocurrency and the fourth-largest digital asset in this category, has seen the biggest 24-hour loss compared to all top 100 cryptocurrencies on CoinGecko.

Dogwifhat (WIF) has fallen below the $3 billion market cap mark. WIF is just one step away from being replaced by FLOKI as the fourth largest meme coin.
The largest meme coins - Dogecoin (DOGE), Shiba Inucoin (SHIB), and Pepecoin (PEPE) - performed better, losing 9.7%, 7.5%, and 11.3%, respectively. CoinGlass data shows that memecoin traders have lost at least $20 million in long positions due to liquidations in the past 24 hours. The net amount of liquidations exceeded $415 million, the largest amount since April 13, 2024.
The total market capitalization of the cryptocurrency market fell by 3.2%, while the largest cryptocurrency Bitcoin (BTC) fell by 3.5% in the past 24 hours. WSB meme coin fell by 30% in 24 hours Meanwhile, even in this painful crash, small meme coins showed impressive gains. For example, Base meme cryptocurrency Basenji (BENJI) surged 33% in a day, reaching a market value of $70 million. Chompcoin (CHOMP) rose by 20%. However, amid widespread disappointment over the much-anticipated live broadcast of Roaring Kitty, the iconic influencer of "Reddit investors", WallStreetBets-themed meme coins suffered a devastating defeat. GME, a meme coin commemorating the stock of the same name, plummeted 33% and almost dropped out of the nine-figure currency club.