With Bitcoin (BTC) falling below $60,000, rivals on the Solana (SOL) and Base (BASE) blockchains, Shiba Inu (SHIB) and Dogecoin (DOGE), are under pressure. The Base meme cryptocurrency scene has lost more over one-third of its value in the past seven days.
Base meme coins segment loses 24% in 24 hours
Once again, the Base (BASE) and Solana (SOL) meme cryptocurrency sectors are among the most severely impacted altcoin categories following a significant spike in cryptocurrency prices. Memes on Base (BASE) have lost over 24% of their capitalization in the past day.
Low-cap assets have suffered the most losses out of all Base (BASE) meme currencies. Nevertheless, 10%–15% declines were also observed in the flagship currencies of the Base (BASE) meme crypto ecosystem: BRETT, DEGEN, and HIGHER.
With 17% loss over night, cat-themed meme coins rank as the sixth least impacted category on CoinGecko. Its leaders, Mog Coin (MOG) and Cat In The Dog World (MEW), on the other hand, had meagre 3-4% losses and beat the overall crypto market.
The toppers WIF, BONK, and BOME merely erased 1-6% of their values, but the Solana (SOL) meme currency ecosystem lost 15% in a single day.
As previously reported by U.Today, the price drop that occurred over the weekend also affected meme currencies on Base (BASE) and Solana (SOL).
Crypto liquidations near $400 million
The entire market capitalization of bitcoin fell by 3.9% on the previous day. The leading cryptocurrency, Bitcoin (BTC), had a 5.7% decrease in value.
This flush is explained by the conclusion of Binance’s CZ experiment and the modest introduction of spot ETFs based on cryptocurrency in Hong Kong.
Consequently, many traders of Bitcoin (BTC) and other cryptocurrency futures were liquidated in the last day. According to CoinGlass’s statistics, almost $390 million worth of positions—mostly longs—were eliminated.
Of this amount, $250 million comes from Bitcoin (BTC) and Ethereum (ETH).
