This meme coin bloodbath is wild, but honestly, it was bound to happen after the massive hype cycles. Here's a quick summary of the situation:
🔻 Worst Performers:
Dogecoin (DOGE): Down 3.4%, price at $0.1676, lost $875 million in market cap overnight.
Shiba Inu (SHIB): Down 4.1%, overtaken by SUI in market cap rankings, now #23, price dropped to $0.00001265.
Pepe (PEPE): Down 3.3%, though still holding as the third-largest meme coin.
📉 Broader Market Context:
Overall crypto market is down 2.8%, now at $2.79 trillion.
Bitcoin (BTC) and Ethereum (ETH) performing better, each down just 0.7%.
$200 million in liquidations, meme coin longs made up 20% of that — brutal for leverage traders.
🚫 Mid-cap Meme Coins Hit Hard:
Pudgy Penguins (PENGU): -12%, second-worst in the top 200.
Dogwifhat (WIF): -5% overnight.
SPX6900 (SPX): -4.7% market cap drop.
Floki (FLOKI): -2.7%, price now $0.00006038 — officially dropped out of the top 100.
Overall takeaway: Meme coins are taking the hardest hit this cycle, with weak trading volume and falling market caps. The hype-driven momentum is cooling off fast. The big dogs (DOGE/SHIB) are struggling, and the mid-caps are bleeding even harder.
Are you tracking this to buy the dip, or just watching the carnage?
