- The cryptocurrency market experienced significant turbulence today as Bitcoin’s price plummeted to $62,000, triggering substantial liquidations among leveraged traders.
- This decline is part of a broader market downturn, with most altcoins also witnessing substantial drops in value.
- Ethereum has decreased by 3.7%, now trading under $3,400, while Binance Coin (BNB) has lost 3.3%. Meanwhile, Solana has plunged by 6.9% within the last 24 hours.
Discover the latest market movements as Bitcoin crashes, altcoins fall, and meme coins face severe corrections. Stay informed with our in-depth analysis of today’s crypto news.
Dogwifhat Experiences Steep Decline
Dogwifhat (WIF), a meme coin that skyrocketed in early 2024, achieving a market cap of over $4 billion, is currently experiencing a considerable downturn. After peaking at around $4.60 in April, the cryptocurrency has seen a sharp decline.
WIF’s Recent Performance
Dogwifhat’s value has plummeted nearly 70% from its all-time high. In the last 24 hours alone, WIF has fallen by approximately 14%, pulling it out of the top 50 cryptocurrencies by market capitalization. Currently, WIF has experienced 37% losses over the past week, 43% over the past two weeks, and 46% in the past month.
BRETT’s Volatile Journey
BRETT, another prominent meme coin, grabbed the attention of the cryptocurrency community in March and quickly ascended in value.
Current Decline and Historical Gains
BRETT hit its all-time high in June at around $0.18 but has since dropped nearly 13% in the past 24 hours. Over the past two weeks, the coin has fallen about 25%. Despite these downturns, BRETT has surged an impressive 130% over the past month, prompting many to speculate on its future trajectory amidst the current market volatility.
Notcoin’s Market Movement
Notcoin (NOT), which functions both as a meme and a gaming coin on TON’s blockchain, has seen a 13% drop in the past day, with a total weekly loss of around 26%.
Performance and Future Prospects
Launched through Binance’s Launchpool, Notcoin has significantly appreciated by 171% in the past 30 days. However, its recent volatility raises questions about its future stability. The unifying factor among these meme coins is their heightened volatility compared to traditional altcoins, adding an element of unpredictability to their performance going forward.
Conclusion
The significant declines in Bitcoin and leading altcoins like Ethereum, BNB, and Solana reflect a broader market correction affecting many cryptocurrencies. Meme coins such as Dogwifhat, BRETT, and Notcoin have particularly shown considerable volatility, shedding substantial value in recent days. As the market continues to evolve, these coins’ performances will be closely watched for potential volatility and recovery trajectories.
