Amid painful liquidations, largest meme coins plummeting, with WSB cryptos posting double-digit losses
Amid the most painful crypto plunge since mid-April, meme cryptocurrencies registered double-digit losses. Dogwifhat and Bonk dropped below major capitalization levels.Dogwifhat , a mid-cap meme cryptocurrency and the fourth largest digital asset in this category, demonstrates the largest losses in 24 hours compared to all the top 100 cryptos on CoinGecko.Dogwifhat's capitalization dropped below the significant level of $3 billion.
The largest meme coins — Dogecoin , Shiba Inu , Pepe — are performing much better, with 9.7%, 7.5% and 11.3% respective losses. In total, meme coin traders lost at least $20 million in long positions in the last 24 hours due to the liquidations, CoinGlassThe aggregated capitalization of the crypto market lost 3.2%, while Bitcoin , the largest crypto, is 3.5% down in the last 24 hours.At the same time, even in this painful collapse, small-sized meme coins are demonstrating amazing gains. For instance, Base meme crypto Basenji spiked by 33% in one day and reached a $70 million capitalization. Chompcoin added 20%.
However, amid the general disappointment around the hotly-anticipated stream of Roaring Kitty, an iconic influencer of"Reddit investors," WallStreetBets-themed meme coins are bleeding. GME, a meme coin that commemorates an eponymous stock, plunged by 33% and almost left the club of nine-digit coins.Supermoon, OORT, Ammocrypt, & Sunrise Hosted 1,000+ Founders, Builders, Investors during Consensus 2024
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