When the market crash increases, leading memories SHIB, DOGE, PEPE Crash

When the market crash increases, leading memories SHIB, DOGE, PEPE Crash


It's been a tough 24 hours for the entire cryptocurrency market, and Mame Coins is no exception. This highly polarized category is down 7% overall, which seems to be a continuation of the decline of the entire crypto market.

Mem Coins Bloodbath

The overall category of Memcoins is down about 7% in the past day. Naturally, some have lost more than others.

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Large-cap altcoins are performing as follows:

DOGE -4.7% SHIB -6.4% PEPE -5.8% FLOKI -4.2% BRET -9.1% BONK -2.8% BOME -6.1%

Small-cap mem coins have experienced even bigger losses. For example, RYU has dropped 79 percent in the last 24 hours, while MUMU and ANDY have lost about 25 percent.

On the other hand, the trending meme coin BODEN has managed to increase by about 10.6% compared to its price 24 hours ago, which is currently the highlight of the market.

Widespread market failure

Bitcoin is now trading below $61k – the first time since May 13th. The reason for this decline is due to the fact that the Mt Gox exchange issued a note that the trustee is ready to start paying creditors until July as part of the rehabilitation plan.

Red is the only color visible on heat maps today, and the entire market has fallen in response.

Source: Quantify Crypto

The decline has resulted in the loss of $315 million worth of leveraged positions over the past 24 hours, of which BTC holds about $130 million. The second is Ethereum, at $72M.

ETH is currently trading below $3.3K, and the bears now seem to be targeting $3K as the initial support level.

On the other hand, Bitcoin faces support at $60K, which is a very important psychological level. If the bears can break to the lower side, the next level will be around 58 thousand dollars.

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