Shiba

United

Memecoin

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/memecoin-market-faces-severe-decline-as-geopolitical-tensions-rattle-investors" rel="noopener noreferrer nofollow">Memecoin Market Faces Severe Decline as Geopolitical Tensions Rattle Investors</a><br></p>
<p style="text-align: justify">The memecoin sector recently underwent a significant downturn, losing 18% of its market value. This drop followed rumors of escalating military conflict, with investors promptly withdrawing from the market. Despite this, the anticipated <a href="https://en.bitcoinhaber.net/sec-approves-11-spot-bitcoin-etfs-amid-market-movements" rel="noopener noreferrer nofollow">Bitcoin</a> halving event presents a potential positive turnaround for <a href="https://en.bitcoinhaber.net/bitcoin-soars-past-52300-boosting-market-morale-with-altcoin-rally" rel="noopener noreferrer nofollow">cryptocurrency</a> enthusiasts.</p>
<h2 id="memecoins-dive-as-market-shudders">Memecoins Dive as Market Shudders</h2>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/dogecoin-soars-in-crypto-markets-as-investor-interest-spikes" rel="noopener noreferrer nofollow">Dogecoin</a>, a leading memecoin by trading volume, suffered a 14.5% setback within 24 hours, cutting its weekly increase to 11.2%. Similarly, Shiba Inu’s value plummeted by 20% in a single day, pushing its weekly deficit beyond 15%. Other memecoins like PEPE and dogwifhat were not spared, experiencing a sharp 23% decrease. These patterns point to a reversal from the memecoin excitement in early 2024 to a more bearish sentiment among traders.</p>
<p style="text-align: justify">The overall memecoin downturn has led to a contraction in the sector’s market cap, now valued at $51.8 billion, accompanied by falling daily trading volumes.</p>
<h2 id="bitcoin-stumbles-as-geopolitical-uncertainty-spikes">Bitcoin Stumbles as Geopolitical Uncertainty Spikes</h2>
<p style="text-align: justify">Global political unrest, particularly the recent attack by Iran on Israel, has injected substantial uncertainty into the markets. Bitcoin, the leading cryptocurrency, saw its value dip below $70,000 before sliding further to around $60,000, marking an 8.5% drop. The current trading price of Bitcoin hovers at $62,845, reflecting the broader trend of investor flight from risk-prone assets due to the geopolitical strife.</p>
<h3 id="points-to-take-into-account">Points to Take into Account</h3>
<ul>
 <li>Memecoins are experiencing a marked decline in both price and market capitalization.</li>
 <li>Geopolitical tensions are influencing investor behavior, causing a shift away from volatile assets.</li>
 <li>The tax season in the United States is contributing to the downward pressure on cryptocurrencies.</li>
 <li>The upcoming Bitcoin halving may offer a glimmer of hope for the crypto market.</li>
</ul>
<p style="text-align: justify">Additionally, the approach of the US tax deadline has compounded the selling pressure, with investors potentially liquidating positions to cover capital gains taxes. This period coincides with a remarkable first-quarter influx into stocks and cryptocurrencies, culminating in their peak valuations.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/memecoin-market-faces-severe-decline-as-geopolitical-tensions-rattle-investors" rel="noopener noreferrer nofollow">Memecoin Market Faces Severe Decline as Geopolitical Tensions Rattle Investors</a></h5>

Memecoin Market Faces Severe Decline as Geopolitical Tensions Rattle Investors

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