📉🚨 Meme Coin Massacre: WIF, BONK, PEPE, FLOKI, SHIB and DOGE plummet by double digits 🚨📉

The entire crypto market witnessed a massive correction, losing over $200 billion in a matter of hours on Friday night.

Liquidations surged to nearly $1 billion on a daily basis, with notable losses in the volatile meme coin niche.

While Bitcoin retreated from $71,000 to a weekly low of $65,000, altcoins and meme coins suffered even more.

BONK led the downtrend with a staggering 25% drop, dropping the Solana-based token to below $0.000017.

WIF followed with a similar decline, pushing dogwifhat below $3 after recently hitting an all-time high of nearly $5.

PEPE, FLOKI, Shiba Inu, and Dogecoin also saw significant daily drops of 21%, 20%, 13%, and 12%, respectively.

Data from CoinGecko reveals that the total market capitalization of the meme coin industry fell almost 20% in the last day, to $54 billion, while the total cryptocurrency market capitalization fell 6.5% .

The total value of positions liquidated in the last 24 hours reached almost $900 million, highlighting the volatile nature of meme coins, especially with leverage trading.

Investors should be careful when trading meme coins, considering their susceptibility to strong price fluctuations. Stay informed and aware of the ups and downs of the market. 📉🚨