FLOKI, BONK, PENGU, AI16Z: Meme Coins Hit by Crypto Collapse
As Bitcoin (BTC) hits its lowest level since mid-November, major meme cryptocurrencies are on the list of the worst performers in the last 24 hours. Meanwhile, the liquidation tsunami erased over half a billion in crypto positions.
Meme coins PENGU, AI16Z posted double-digit losses today
In the last 24 hours, the segment of meme cryptocurrencies lost 8.8% of its market cap. Pudgy Penguins (PENGU), a token associated with the eponymous NFT drop, dropped by 11%, while AI-agents-themed meme crypto AI16Z erased 15.4% of the market cap.
Ai16Z (AI16Z), a meme coin of an AI-governed DAO, is the worst sufferer in the meme coin segment. In just seven days, its capitalization dropped by almost $1 billion. As a result, the asset lost its place in the top 100 cryptocurrencies by market cap. AI16Z price dipped below $1 as of press time.
Bonk (BONK), another popular meme cryptocurrency with a large community, has lost 10.9% of its aggregated cap. Its capitalization dropped below $2 billion in equivalent, while the price attempted to stay above $0.000025.
Major dog-themed cryptocurrency Floki Inu (FLOKI) lost 9.1%, while PEPE, SHIB and WIF are down by 6.7% each. Dogecoin (DOGE), the largest meme cryptocurrency, is only down by 5.9%.
$550,000,000: Crypto markets hit by liquidation storm
Bitcoin (BTC), the first cryptocurrency, lost 3.8% today. Its rates briefly dropped to eight-week lows of $90,200 but then recovered to $91,500. The market benchmark is down by 6.9% in the last 24 hours.
This cryptocurrency collapse triggered a massive liquidation wave. According to CoinGlass, over $547 million in crypto derivatives were liquidated in the last 24 hours. Eighty-five percent of liquidated contracts were longs. Almost 40% of liquidations happened in the last four hours.
Binance's BTCUSDT long, worth $8.21 million, was the largest single liquidation.
The Crypto Fear and Greed Index by Alternative tumbled from 69/100 to 61/100 overnight, but it is still in the "Greed" zone, data shows.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mars Morning News | Ethereum Fusaka upgrade officially activated; ETH surpasses $3,200
The Ethereum Fusaka upgrade has been activated, enhancing L2 transaction capabilities and reducing fees; BlackRock predicts accelerated institutional adoption of cryptocurrencies; cryptocurrency ETF inflows have reached a 7-week high; Trump nominates crypto-friendly regulatory officials; Malaysia cracks down on illegal Bitcoin mining. Summary generated by Mars AI. The accuracy and completeness of this summary are still undergoing iterative updates.
Do you think stop-losses can save you? Taleb exposes the biggest misconception: all risks are packed into a single blow-up point.
Nassim Nicholas Taleb's latest paper, "Trading With a Stop," challenges traditional views on stop-loss orders, arguing that stop-losses do not reduce risk but instead compress and concentrate risk into fragile breaking points, altering market behavior patterns. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.
With capital outflows from crypto ETFs, can issuers like BlackRock still make good profits?
BlackRock's crypto ETF fee revenue has dropped by 38%, and its ETF business is struggling to escape the cyclical curse of the market.
Incubator MEETLabs today launched the large-scale 3D fishing blockchain game "DeFishing". As the first blockchain game on the GamingFi platform, it implements a dual-token P2E system with the IDOL token and the platform token GFT.
MEETLabs is an innovative lab focused on blockchain technology and the cryptocurrency sector, and also serves as the incubator for MEET48.
Trending news
MoreCrypto prices
More
