As Bitcoin (BTC) hits its lowest level since mid-November, major meme cryptocurrencies are on the list of the worst performers within the final 24 hours. In the intervening time, the liquidation tsunami erased over half of a thousand million in crypto positions.
Meme money PENGU, AI16Z posted double-digit losses on the novel time
In the final 24 hours, the section of meme cryptocurrencies misplaced 8.8% of its market cap. Plump Penguins (PENGU), a token linked with the eponymous NFT tumble, 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-dominated DAO, is the worst sufferer within the meme coin section. In correct seven days, its capitalization dropped by nearly $1 billion. Consequently, the asset misplaced its space within the waste 100 cryptocurrencies by market cap. AI16Z imprint dipped below $1 as of press time.
Bonk (BONK), one other original meme cryptocurrency with a wide neighborhood, has misplaced 10.9% of its aggregated cap. Its capitalization dropped below $2 billion in similar, while the imprint tried to defend above $0.000025.
Most necessary canines-themed cryptocurrency Floki Inu (FLOKI) misplaced 9.1%, while PEPE, SHIB and WIF are down by 6.7% every. Dogecoin (DOGE), the final discover meme cryptocurrency, is barely down by 5.9%.
$550,000,000: Crypto markets hit by liquidation storm
Bitcoin (BTC), basically the major cryptocurrency, misplaced 3.8% on the novel time. Its charges briefly dropped to eight-week lows of $90,200 but then recovered to $91,500. The market benchmark is down by 6.9% within the final 24 hours.
This cryptocurrency give device precipitated a huge liquidation wave. Per CoinGlass, over $547 million in crypto derivatives had been liquidated within the final 24 hours. Eighty-5 p.c of liquidated contracts had been longs. Almost 40% of liquidations came about within the final four hours.
Binance’s BTCUSDT long, price $8.21 million, used to be the final discover single liquidation.
The Crypto Worry and Greed Index by Quite loads of tumbled from 69/100 to 61/100 overnight, but it is a long way soundless within the “Greed” zone, recordsdata reveals.
