In summary
- Bitcoin briefly fell below $95,000, sparking massive liquidations of $800 million in one hour.
- Memecoins led the losses, with Dogecoin down 10% and Shiba Inu 12% in 24 hours.
- Bitcoin showed a recovery to $97,376, falling only 1.3% in the last day.
On Monday morning, Bitcoin fell from a price of $100,000 to below $95,000 by late afternoon, with a drop that shook the crypto market and generated more than $800 million in liquidations in less than an hour.
While Bitcoin has recovered quite a bit since then, memecoins like Dogecoin and Shiba Inu are still showing significant damage, with the broader category of memecoins down more than 15% over the past day, according to data from CoinGecko.
Dogecoin is still down 10% over the past 24 hours at a current price of $0.393, showing only a modest recovery after falling below $0.39 on Monday afternoon. The original and largest memecoin by market capitalization is now down 3% on the week, and has fallen sharply since hitting a three-year high price of $0.48 over the weekend.
Other high value memecoins have fallen harder, with Shiba Inu (SHIB) down 12% to $0.000026, Dogwifhat (WIF) falling a considerable 18% to $2.88, Bonk (BONK) down 16% to $0.000037, and Floki (FLOKI) falling 15% to $0.00023.
The only memecoin in the top 100 cryptocurrencies by market cap that hasn’t fallen by a double-digit percentage in the last day is Pepe (PEPE), which is down more than 7% to a current price of $0.000025.
Bitcoin, by comparison, has regained ground to a current price of $97,376, falling just 1.3% over the past day. Ethereum and Solana are down almost 6% over the period, while XRP is still showing a drop of almost 11% on the day and Cardano is down more than 11%.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
Disclaimer: Please note that the information provided on this page is for News purposes only and should not be considered investment or trading advice. ©Crypto.keynoteusa.com strongly recommends that you conduct independent research and/or consult with a qualified professional before making any investment decisions.
