š©øš±Meme Coin Bloody Massacre: WIF, BONK, PEPE, FLOKI, #SHIB and #DOGE Fall by Double Digits
The entire crypto market saw a major correction on Friday evening, and more than $200 billion came out of the gap within hours.
Apr liquidations have reached almost $1 billion on a daily scale, but some of the most notable losers come from the meme coin niche, which is constantly volatile.
he had already reported the massive Bitcoin pullback that sent the primary cryptocurrency down from about $71,000 earlier today to a weekly low of $65,000 in a matter of minutes.
But this is only part of the story, because altcoins and meme coins in particular have experienced even more pain in the past day.
BONK is leading the way in this negative trend with a huge drop of 25% pushing the popular Solana-based token below $0.000017.
WIF is doing the same thing with a similar drop that pushed dogwifhat well below $3. It is worth noting that the Meme coin has recently reached an all-time high of almost $ 5.
PEPE follows with a daily decline of 21%, followed by FLOKI (-20%), Shiba Inu (-13%) and Dogecoin (-12%).
Data from CoinGecko shows that the entire meme coin industry has lost almost 20% of its total market capitalization in the past day and is currently down to $ 54 billion. At the same time, the total crypto market value fell by 6.5%.
According to COINGLASS, the total value of the liquidated positions in the last 24 hours is almost $ 900 million. The collapse of memecoins only highlights their volatile nature and the need for investors to be more careful when dealing with them, especially if leveraged trading is available.
