Top Meme Coins Crash as Crypto Markets Decline

The cryptocurrency market is seeing another downturn on Monday morning, with major coins posting significant declines.

For example, ETH is trading below $3,000 again, down 4% on the day. XRP is down 5%, and now bulls are fighting to defend the critical $0.4 level.

As shown in the heatmap above, there are absolutely no exceptions from large-cap altcoins, which are all trading well in the red zone. The decline in the past hours has been It resulted in In nearly $300 million of liquid positions, most of which were long-term. Although $113 million were short-term positions, indicating volatile price action.

However, there is one category that has been hit particularly hard: meme coins. According to CoinGecko, the entire meme coin sector has dropped by 10% in the past 24 hours alone.

However, major meme coins are experiencing a sharp decline at the time of writing.

• DOGE stock is down 6.4%
• SHIB stock fell 4.8%
• PEPE is down 10%
• The WIF index fell by 9.5%.
• BONK stock fell 6%
• FLOKI stock fell 6%

According to the popular cryptocurrency Fear and Greed Index, the current market sentiment is a scary 28 points. Just for comparison – it was 53 points this time last week and 72 points this time last month.

The market appears to be still wary of potential selling pressure that could arise as creditors dump the recovered Bitcoin and Bitcoin Cash from the Mt. Gox exchange. Crypto Potato According to previous reports, the defunct trading platform has started paying off its debts after a story that lasted about 10 years.