Here's a quick overview of token drawdowns compared to their local highs across different narratives:

Layer 1s:

- $BTC down 5%

- $ETH down 15%

- $SEI down 42%

- $SOL down 18%

- $APT down 37%

- $AVAX down 29%

- $FTM down 25%

- $INJ down 39%

- $MINA down 40%

- $NEAR down 23%

- $SUI down 31%

- $RON down 18%

- $NEON down 63%

Modular Blockchains:

- $TIA down 48%

- $DYM down 46%

- $CTSI down 41%

- $SAGA down 35%

- $ZETA down 42%

Layer 2s:

- $ARB down 40%

- $OP down 39%

- $STX down 21%

- $METIS down 41%

- $IMX down 31%

- $MANTA down 35%

- $MATIC down 33%

- $MNT down 18%

- $SKL down 16%

- $STRK down 31%

Layer 3s:

- $DEGEN down 45%

AI:

- $OLAS down 50%

- $RNDR down 35%

- $AGI down 52%

- $TAO down 10%

- $FET down 27%

- $AI down 41%

Gaming / NFT:

- down 32%

- $PRIME down 23%

- $BLUR down 38%

- $MANA down 26%

- $AXS down 30%

- $SAND down 26%

- $RLB down 53%

Oracles:

- $PYTH down 32%

- $LINK down 25%

Memes:

- $WIF down 27%

- $DOG down 12%

- $SHIB down 40%

- $DOGE down 16%

- $PEPE down 36%

- $MYRO down 51%

DePin:

- $AR down 35%

- $FIL down 32%

RWA:

- $ONDO down 28%

- $MPL down 21%

Liquid Staking:

- $JTO down 30%

- $LDO down 37%

DeFi:

- $PENDLE down 2%

- $ENA down 3%

- $AAVE down 23%

- $COMP down 32%

- $CRV down 32%

- $SNX down 27%

- $RUNE down 39%

- $UNI down 45%

- $JUP down 30%

- $SUSHI down 33%

- $AEVO down 37%

- $DYDX down 34%

CEX:

- $CRO down 21%

- $LEO down 5%

- $KCS down 35%

- $OKB down 23%

Bridges:

#pIxel✈️ - $W down 56%

- $SYN down 36%

Observations:

- Layer 1s holding relatively better than other infrastructure tokens

- Modular blockchain tokens taking a hit

- Layer 2s performing averagely except for a few outliers

- AI coins like $TAO gaining momentum again

- Possibility of modular tokens and $SEI following $TAO's lead soon

- Top memecoins likely to remain in a supercycle with some quality projects catching up