Dogecoin Dives as Solana and Ethereum Meme Cash Crash – Decrypt

Main meme coin Dogecoin (DOGE) is down greater than 11% within the final 24 hours, dropping beneath $0.20 for the primary time since November because the broader meme coin and crypto markets unload. 

At a present worth just below $0.201, DOGE is now down 43% within the final month and trades 72% off its all-time excessive of $0.73 established in 2021. Dogecoin dipped as little as $0.197 earlier Tuesday.

However the prime meme coin will not be the one one bleeding, as majors like Bitcoin and Ethereum are down 8.3% and 10.1% respectively within the final 24 hours. And different meme cash have marked a lot sharper drops.

The whole meme coin market cap is down practically 16.4% throughout that point, led by double-digit losses for the Ethereum-based Pepe (PEPE) and prime Solana meme cash like President Donald Trump’s official token (TRUMP) and Bonk (BONK), which have all misplaced a minimum of 14% within the final week. 

Widespread Solana meme coin Fartcoin (FARTCOIN), which was launched on the Pump.enjoyable token launchpad, has additionally fallen sharply amid the meme coin drops.

The token, which briefly jumped to greater than a $2.4 billion market cap simply over a month in the past, is now down practically 90% from its all-time excessive because it trades at $0.29, sliding outdoors the highest 200 in crypto market cap in accordance with CoinGecko.

The swift drops throughout the board has led to $32.37 million in liquidations for DOGE contracts and $11.39 million on TRUMP within the final 24 hours, as open curiosity on the highest meme cash drop per information from CoinGlass. 

Amongst notable meme cash, solely Popcat (POPCAT) and Peanut the Squirrel (PNUT) have posted positive aspects within the final 24 hours, leaping 1% and 5% respectively. 

The whole crypto market cap is down 8.8% throughout that point, dropping beneath the $3 trillion mark within the course of.

Edited by Andrew Hayward