news 
**BONK Meme Coin Among Worst Performers as Crypto Market Sees Widespread Losses**
The crypto market has ended the first quarter of 2025 in a sea of red, with many assets experiencing significant losses. As a result, a number of meme coins have been particularly hard hit.
Unfortunately for holders of BONK, one of the more popular meme tokens, their investment has taken a dramatic turn for the worse. According to recent data, BONK’s price has begun to bleed, erasing over $100 million from its market capitalization in just 24 hours.
But BONK is not alone in its struggles. Other notable meme coins have also been hit hard by the market downturn. The likes of Pudgy Penguins (PENGU) and MUBARAK have both lost significant value, with losses exceeding 10% over the same time period.
As if that weren’t enough, a number of long positions were liquidated in the last 24 hours, totaling a staggering $344 million. Many of these liquidations appear to be concentrated among meme coin investors, as VINE, DOGE, PEPE, MUBARAK, and TUT have all been affected.
Open interest on crypto contracts has also taken a hit, dropping by 4% over the same time period.
It’s a tough start to the second quarter for many in the crypto community, but it remains to be seen how these losses will play out as we move forward.
Source: https://u.today/bonk-meme-coin-amid-worst-performers
