Memecoin market cap falls 12% during today’s liquidation
Memecoins took the hardest hit in today ’s market selloff, losing almost double the market cap of the average market . Earlier today reports from Matrixport regarding the SEC’s potential rejection of Bitcoin ETF applications triggered a significant liquidation across the market . Within four hours, the market lost over $540 million, with Bitcoin and Ethereum dipping nearly 10%. However, it appears that the meme coin market took the sharp end of liquidation, with all major meme tokens losing over 10% of their value today. Bonk, the newest and most trending meme coin, lost nearly 16% today, and the token is 66% down from its all-time high reached less than three weeks ago. You might also like: SEC holds urgent meetings with Nasdaq and NYSE to discuss Bitcoin ETFs Dogecoin perhaps suffered the worst fall among the top meme tokens, from $0.090 to $0.0819 in just 15 minutes. Since then, the leading meme coin slightly recovered. Shiba Inu also lost over 10% on the day...