What Caused the Sharp Decline in Bitcoin and Major Cryptocurrencies?
Traders who had backed bullish bets on Bitcoin faced substantial losses, totaling $100 million. Other major cryptocurrencies, such as Ether (ETH), Solana (SOL), and Dogecoin (DOGE), also experienced declines, resulting in $120 million in liquidations taking place from long positions according to Coinglass data. Most of these liquidations occurred on Binance, amounting to $212 million, followed by OKX with $170 million in losses

The cryptocurrency market is currently witnessing a significant upward trend, with meme coins capturing the spotlight due to their impressive performance. These digital assets are asserting their influence in the bullish market dynamics. Prominent examples such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and Dogwifhat (WIF) have seen substantial growth. 
What Are Meme Coins? 
Meme coins are a form of cryptocurrency, like Bitcoin and Ethereum, that are inspired by internet memes. These di