Double-Digit Losses Hit Meme Coin Index Amid Bearish Crypto Sentiment

• The meme coin market faces double-digit losses, reflecting the broader crypto sector’s bearish trend.
• DOGE and SHIB hit significant lows, raising concerns about future support levels.
• PEPE, WIF, and BONK continue to decline, struggling amidst widespread sell-off pressure.

The once vibrant and humorous world of meme coins has taken a severe hit as SHIB, DOGE, PEPE, WIF, and BONK prices plummet. Fueled by internet culture and viral trends, these digital tokens have seen their market values nosedive, resulting in double-digit losses for the Meme Coin Index.

Source: CoinMarketCap

This sharp decline reflects a broader bearish sentiment sweeping through the crypto sector, raising critical questions about the sustainability and future of meme-based currencies. The downturn is not limited to meme coins alone, as major altcoins have also experienced significant declines.

For instance, Bitcoin dipped over 3% today as it retested the $58.3K mark, while Ethereum saw a 4.69% slump, stabilizing above the $3.2K mark.

SHIB and DOGE Prices in Bloodbath

Amid the broader market’s bearish sentiment, Shiba Inu’s SHIB and Dogecoin’s DOGE tokens have significantly d…

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