Shiba

Memecoin

Dogecoin

Shiba Inu

Spot

Memecoins took the hardest hit in today’s market selloff, losing almost double the market cap of the average market.&nbsp;
Earlier today reports from Matrixport regarding the SEC’s potential <a href="https://crypto.news/sec-will-reject-all-bitcoin-etfs-in-january-says-matrixport/" rel="noopener noreferrer nofollow">rejection</a> of Bitcoin ETF applications triggered a significant liquidation across the market. Within four hours, the market lost over $540 million, with Bitcoin and Ethereum dipping nearly 10%.
However, it appears that the meme coin market took the sharp end of liquidation, with all major meme tokens losing over 10% of their value today. <a href="https://crypto.news/price/bonk/" rel="noopener noreferrer nofollow">Bonk</a>, the newest and most trending meme coin, lost nearly 16% today, and the token is 66% down from its all-time high reached less than three weeks ago.
You might also like: <a href="https://crypto.news/sec-holds-urgent-meetings-with-nasdaq-and-nyse-to-discuss-bitcoin-etfs/" rel="noopener noreferrer nofollow"> SEC holds urgent meetings with Nasdaq and NYSE to discuss Bitcoin ETFs </a>
 <a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin</a> perhaps suffered the worst fall among the top meme tokens, from $0.090 to $0.0819 in just 15 minutes. Since then, the leading meme coin slightly recovered. Shiba Inu also lost over 10% on the day, but the token’s notable rally in December means it’s still nearly 8% up in 30 days.&nbsp;
The crypto market cap fell by 4.9% today, but the meme coin market cap fell by nearly 11.5% — more than double the average. As more speculations around the potential approval of Bitcoin ETFs keep coming, it will be intriguing to see how significantly it impacts the meme coin market.&nbsp;
Read more: <a href="https://crypto.news/greekslive-spot-bitcoin-etf-approval-unlikely-until-2nd-week-of-january/" rel="noopener noreferrer nofollow"> Greekslive: Spot Bitcoin ETF approval unlikely until 2nd week of January </a>

Memecoin market cap falls 12% during today’s liquidation

crypto.news

Other articles published on Jan 3, 2024

There was a sudden drop in Bitcoin (BTC) price! What is the reason for the decline?

FTX Prepares To Cash Billions In Lawsuits And Realized Claims

Whales accumulate Shiba Inu as Sponge also sees growing holder numbers

Trader Makes $245K With an Initial Investment of 4 Solana Tokens

Top 3 BRC-20 Low-cap Coins with 50-100x Potential

Michael Sylor Sells $216 Million in Stocks!

Join our free newsletter for daily crypto updates!