SHIB, FLOKI, WIF, BRETT: Meme Coin Bloodbath Continues

SHIB, FLOKI, WIF, BRETT: Meme Coin Bloodbath Continues

As the cryptocurrency correction accelerates, meme coins are once again among the hardest hit thanks to their high volatility. Meme coin traders faced an eight-digit wave of liquidations in the last 24 hours.

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As the cryptocurrency correction accelerates, meme coins are once again among the hardest hit thanks to their high volatility. Meme coin traders faced an eight-digit sell-off in the last 24 hours.

Meme coins BRETT and FLOKI post double-digit losses; SHIB and WIF also under pressure

Brett or Brett on Base (BRETT), the largest meme coin on Coinbase’s L2 Base (BASE), is posting double-digit losses for the second day in a row. It is once again among the worst performers on the top 100 list, losing 15.2% overnight. The asset is very close to falling below the important capitalization level of $1.5 billion.

BRETT, FLOKI among the worst performers
Image by CoinGecko

FLOKI, another mainstream meme cryptocurrency with a large community, is fighting for its place in the top 10 after it lost another 10% in 24 hours.

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Other top league meme coins also underperformed the market benchmark. Dogwifhat (WIF) is down 9.6%, while Shiba Inu (SHIB) is down 6.2%. The WIF is close to seeing its limit below $2.5 billion.

Dogecoin (DOGE), the largest meme cryptocurrency, is down 5.6%, while the cryptocurrency market as a whole lost 3.7% in capitalization.

The ongoing meme crypto crash is accompanied by extreme sell-offs, as Guru-Investingcovered earlier this week.

Cat-themed meme base coins suffer the most

CoinGlass data shows that PEPE, WIF, and DOGE traders are among the hardest hit by liquidations, primarily in the long segment.

In terms of categories, cat-themed meme coins and Base meme coins are losers today, CoinGecko data shows. The categories lost 18.7% and 15.1% of their cap overnight.

With a loss of just 3.1%, Bonk (BONK) looks like the best performing meme coin today.

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