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The memecoin market has experienced a notable downturn, with DOGE, SHIB, and PEPE leading the decline. Despite the bearish trend, there are projections of a potential recovery for SHIB.
The cryptocurrency market has witnessed significant fluctuations recently, with meme coins experiencing a notable downturn. These whimsically themed cryptocurrencies, often inspired by internet memes and jokes, have seen a collective market cap reduction to $54.5 billion, a 3.3% decline just in the past day. Despite their typically volatile nature, the decline has been sharp and influenced primarily by major players such as Dogecoin [DOGE], Shiba Inu [SHIB], and Pepe [PEPE].
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