Meme Coin Crash: SHIB, FLOKI, WIF, and BRETT Hit Hard in Market Downturn

The ongoing cryptocurrency correction has hit meme coins particularly hard, intensifying their notorious volatility. In the past 24 hours alone, traders of meme coins have experienced liquidations in the eight-digit range, underscoring the market's turbulent conditions.

Double-Digit Declines: BRETT and FLOKI Lead Losses

Brett or Brett on Base (BRETT), the largest meme coin on Coinbase's L2 Base (BASE), has been a significant casualty, suffering double-digit losses for the second consecutive day. BRETT's value plummeted by 15.2% overnight, positioning it as one of the worst performers in the top 100 list. The coin is teetering on the edge of a critical $1.5 billion market capitalization threshold.

Similarly, FLOKI, another prominent meme cryptocurrency with a dedicated following, is struggling to maintain its standing in the top 10 after a 10% decline over the same period.

Other Meme Coins Under Pressure

Other high-profile meme coins also faced significant setbacks: Dogwifhat (WIF) fell by 9.6%, Shiba Inu (SHIBUSD) dropped by 6.2%, and Dogecoin (DOGEUSD) decreased by 5.6%. In comparison, the broader cryptocurrency market saw a 3.7% decline in capitalization.

Liquidations Hit Hard

The severe downturn in meme cryptocurrencies led to extreme liquidations, with PEPE, WIF, and DOGE traders hit hardest, primarily in the longs segment, according to CoinGlass.

Thematic and Platform-Based Losses

Cat-themed and Base platform meme coins were hit hardest, losing 18.7% and 15.1% of their market cap overnight, according to CoinGecko.

Bonk (BONK) Emerges Relatively Unscathed

Amid the widespread losses, Bonk (BONK) stands out as the best-performing meme coin of the day, with a relatively modest decline of only 3.1%.

Overviews; The current market correction underscores the high volatility and risk of meme coins. As the market fluctuates, traders and investors brace for more challenges.

$BONK $SHIB $PEPE #PEPE_EXPERT #Shibarium #BONK🔥🔥