Some major meme coins posting double-digit losses, while meme cryptos segments are worst performers
With seven-digit long liquidations, meme cryptocurrencies are yet again among the worst sufferers of the cryptocurrency market drop. The segment's net valuation might dip below $50 billion while all majors are doing worse than the market benchmark.Today, May 11, 2024, plenty of meme cryptocurrencies are in the red zone. While the net cryptocurrency market capitalization lost 3.6%, all major dog coins are performing worse.
Such a dropdown is accompanied by significant long positions liquidated. As per CoinGlass data, traders of Dogecoin , Bonk , Pepe and Dogwifhat lost $4.5 million worth of long positions in 24 hours. At the same time, a single asset demonstrates the opposite performance. Catwifhat , a Solana WIF copycat, added over 30% in the last day and exploded into the top 1,000 cryptos by market cap.
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