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FLOKI, BONK, PENGU, AI16Z: Meme Coins Hit by Crypto Collapse
The crypto market has witnessed a significant downturn in the past 24 hours, with various cryptocurrencies experiencing substantial losses. Unfortunately, meme coins such as FLOKI, BONK, PENGU, and AI16Z have been particularly hard hit.
According to U.Today’s analysis, it appears that these meme coins have taken a significant blow from the recent market downturn. The data reveals that FLOKI has plummeted by over 15% in just one day, with BONK experiencing losses of around 12%. PENGU and AI16Z are not far behind, having dropped by 11% and 10%, respectively.
As a result of this sharp decline, the combined market capitalization of these meme coins has taken a significant hit. The data suggests that their total value has decreased by over $100 million in just one day.
Notably, Binance’s BTCUSDT long position worth approximately $8.21 million was liquidated, becoming the largest single liquidation event of the day. This massive loss highlights the significant risks associated with trading cryptocurrencies and serves as a stark reminder to investors to exercise caution when engaging in this market.
It is essential for investors to stay informed about market developments and to thoroughly assess their investment options before making any decisions. As the Crypto Fear and Greed Index falls from 69/100 to 61/100, it is crucial that investors maintain a level head and avoid impulsive decisions based on emotions.
As always, we encourage readers to conduct their own research and consult with financial experts before making any investment decisions.
Source: u.today
