SPX6900 Leads Meme Coin Slump as Sector Market Cap Falls to $54.8 Billion

• SPX6900 leads meme coin losses with a 5.9% decline to $1.18 over the past 24 hours.
• BONK and Shiba Inu fell by 1.6% and 2.4%, respectively, over the same period.
• Overall meme coin market capitalization contracts 2.5% to $54.8 billion in total value.

Meme tokens are experiencing a synchronized sell-off today, with SPX6900 leading the pack as the sector’s market cap declines by 2.5% to $54.8 billion. SPX6900 has posted the largest drops among the leading meme tokens, falling 5.9% over the last 24 hours to trade at $1.18.

The token has gone on to lose across different time horizons, falling by 12.3% over seven days and 13% over two weeks. Showing short-term weakness, SPX6900 still maintains 21.1% gains over the previous month and a 7,760.5% return over the past year.

BONK and SHIB Join Broader Meme Retreat

BONK at $0.00001325 lost 1.6% in the past day while sustaining losses of 8.1% over the past week. The Solana-referenced meme token has been under selling pressure for longer durations, losing 7% in the past fortnight and 34% in the past month. The year-to-date performance is at 40.1% loss.

BONK technical charts indicate minimal price activity in recen…

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