Meme Coins Face $1.4 Billion Sell-Off on Binance as Bitcoin Slides From Its Peak

Summary

Meme coins have faced more than $1.4 billion in cumulative selling pressure on Binance since Bitcoin hit its last peak, according to CryptoQuant, as investors retreat from risky crypto assets. Bitcoin’s maximum drawdown since its October peak reached 54%, and it is now around 35% below that high; meme coins have been hit harder because many depend on online trends and community hype rather than stronger fundamentals. Their share of total altcoin market capitalization fell below 3%, its lowest level.

Summary: CoinMarketCap. Read the original report for full context.

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