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As the cryptocurrency correction accelerates, meme coins are among the worst sufferers yet again thanks to being highly volatile. Traders of meme coins faced an eight-digit liquidation wave in the last 24 hours.
Meme coins $BRETT, $FLOKI post double-digit losses; $SHIB, $WIF also under pressure
Brett or Brett on Base ($BRETT), the largest meme coin of Coinbase's L2 Base (BASE), is registering double-digit losses for the second day in a row. Yet again it is among the worst performers on the top 100 list, with 15.2% lost overnight. The asset is extremely close to dipping below the important $1.5 billion capitalization level.
$BRETT, $FLOKI amidst worst performers ">$FLOKI, another mainstream meme cryptocurrency with a large community, is fighting for its place in the top 10 after another 10% was lost in 24 hours.
Other top-league meme coins under performed the market benchmark as well. Dogwifhat ($WIF) is down by 9.6%, while Shiba Inu ($SHIB) has dropped by 6.2%. $WIF is close to seeing its cap under $2.5 billion.
Dogecoin ($DOGE), the largest meme cryptocurrency, is down by 5.6%, while the cryptocurrency market as a whole lost 3.7% in capitalization.
The ongoing meme crypto dropdown is accompanied by extreme liquidations, as covered by U.Today earlier this week.
Cat-themed, Base meme coins suffering the worst
CoinGlass data shows that PEPE, $WIF and $DOGE traders are among the worst affected by liquidations, mostly in the longs 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.
Losing only 3.1%, Bonk (BONK) looks like the best-performing meme coin today.