The post Memecoins Drop to July Levels as Bitcoin and Ether Lead Market Recovery appeared on BitcoinEthereumNews.com. The memecoin sector’s market capitalization fell to levels last seen in July, as meme-based tokens struggled to recover from losses incurred during the crypto market’s sharp crash on Friday.  CoinMarketCap data showed that on Saturday, the memecoin sector dropped to a low of $44 billion, an almost 40% plunge from $72 billion the previous day. On Sunday, the memecoin market slightly recovered to $53 billion, a level last seen in July before a Solana-based memecoin frenzy ignited the sector’s late-summer rally. Over the last four months, the memecoin market cap has consistently remained above $60 billion, as meme-based tokens have maintained strong retail interest, fueled by Solana and BNB Chain. However, the recent plunge marked a shift in momentum.  At the time of writing, the memecoin sector’s market cap hovers at $57 billion, still much lower than its recent performances.  Memecoin market cap’s seven-day chart. Source: CoinMarketCap Top memecoins struggle to recover from Friday’s bloodbath According to CoinMarketCap, the top 10 memecoins account for about $47 billion, more than 82% of the sector’s total market capitalization. At the time of writing, all these tokens were trading in the red, both on the 24-hour and seven-day charts.  The biggest meme tokens like Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) all posted weekly losses from 13%–22%. Other top-ranked memecoins like Bonk (BONK) and Floki (FLOKI) dropped by over 20% in the last week.  US President Donald Trump’s official memecoin token was also hit by the crash and is 20% down in the weekly charts.  Top memecoins down by double-digit percentages. Source: CoinMarketCap Related: High-leverage crypto trader James Wynn liquidated again, this time for $4.8M Other sectors quickly stabilized after the market crash While memecoins are still recovering from the aftermath of the crash, several other sectors have shown signs of faster… The post Memecoins Drop to July Levels as Bitcoin and Ether Lead Market Recovery appeared on BitcoinEthereumNews.com. The memecoin sector’s market capitalization fell to levels last seen in July, as meme-based tokens struggled to recover from losses incurred during the crypto market’s sharp crash on Friday.  CoinMarketCap data showed that on Saturday, the memecoin sector dropped to a low of $44 billion, an almost 40% plunge from $72 billion the previous day. On Sunday, the memecoin market slightly recovered to $53 billion, a level last seen in July before a Solana-based memecoin frenzy ignited the sector’s late-summer rally. Over the last four months, the memecoin market cap has consistently remained above $60 billion, as meme-based tokens have maintained strong retail interest, fueled by Solana and BNB Chain. However, the recent plunge marked a shift in momentum.  At the time of writing, the memecoin sector’s market cap hovers at $57 billion, still much lower than its recent performances.  Memecoin market cap’s seven-day chart. Source: CoinMarketCap Top memecoins struggle to recover from Friday’s bloodbath According to CoinMarketCap, the top 10 memecoins account for about $47 billion, more than 82% of the sector’s total market capitalization. At the time of writing, all these tokens were trading in the red, both on the 24-hour and seven-day charts.  The biggest meme tokens like Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) all posted weekly losses from 13%–22%. Other top-ranked memecoins like Bonk (BONK) and Floki (FLOKI) dropped by over 20% in the last week.  US President Donald Trump’s official memecoin token was also hit by the crash and is 20% down in the weekly charts.  Top memecoins down by double-digit percentages. Source: CoinMarketCap Related: High-leverage crypto trader James Wynn liquidated again, this time for $4.8M Other sectors quickly stabilized after the market crash While memecoins are still recovering from the aftermath of the crash, several other sectors have shown signs of faster…

Memecoins Drop to July Levels as Bitcoin and Ether Lead Market Recovery

The memecoin sector’s market capitalization fell to levels last seen in July, as meme-based tokens struggled to recover from losses incurred during the crypto market’s sharp crash on Friday. 

CoinMarketCap data showed that on Saturday, the memecoin sector dropped to a low of $44 billion, an almost 40% plunge from $72 billion the previous day. On Sunday, the memecoin market slightly recovered to $53 billion, a level last seen in July before a Solana-based memecoin frenzy ignited the sector’s late-summer rally.

Over the last four months, the memecoin market cap has consistently remained above $60 billion, as meme-based tokens have maintained strong retail interest, fueled by Solana and BNB Chain. However, the recent plunge marked a shift in momentum. 

At the time of writing, the memecoin sector’s market cap hovers at $57 billion, still much lower than its recent performances. 

Memecoin market cap’s seven-day chart. Source: CoinMarketCap

Top memecoins struggle to recover from Friday’s bloodbath

According to CoinMarketCap, the top 10 memecoins account for about $47 billion, more than 82% of the sector’s total market capitalization. At the time of writing, all these tokens were trading in the red, both on the 24-hour and seven-day charts. 

The biggest meme tokens like Dogecoin (DOGE), Shiba Inu (SHIB) and Pepe (PEPE) all posted weekly losses from 13%–22%. Other top-ranked memecoins like Bonk (BONK) and Floki (FLOKI) dropped by over 20% in the last week. 

US President Donald Trump’s official memecoin token was also hit by the crash and is 20% down in the weekly charts. 

Top memecoins down by double-digit percentages. Source: CoinMarketCap

Related: High-leverage crypto trader James Wynn liquidated again, this time for $4.8M

Other sectors quickly stabilized after the market crash

While memecoins are still recovering from the aftermath of the crash, several other sectors have shown signs of faster stabilization and recovery.

A day after the crash, non-fungible tokens (NFTs) started to bounce back. During the market sell-off, the overall value of the NFT space dropped by 20%, with about $1.2 billion in value erased from the sector. However, the niche quickly recovered, regaining 10% the day after the crash. 

Crypto exchange-traded funds (ETFs) also quickly attracted fresh inflows after a wave of outflows following the recent market meltdown. On Tuesday, spot Bitcoin ETFs saw $102 million in net inflows, while Ether ETFs recorded $236 million in net inflows. 

More established cryptocurrencies were also quick to recover. Bitcoin (BTC), which dropped to $102,000, is trading above $111,000, according to CoinGecko. Ether (ETH), which declined to below $3,700, has recovered to levels above $4,000. 

Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling: Joseph Chalom

Source: https://cointelegraph.com/news/memecoins-drop-july-levels-market-recovery?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

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