Dogecoin, the leading meme coin by market cap, has dropped nearly 6% in the last 24 hours amid rising tensions between Iran and Israel. The broader meme coin category has underperformed, falling 9.5% compared to Bitcoin’s 2.6% and Ethereum’s 8% declines. Other popular meme coins like Pepe, Fartcoin, and Bonk have seen even steeper drops, with some losing over 10% in value. The sell-off isn’t limited to meme coins, as altcoins also faced significant losses, contributing to over $1.13 billion in crypto liquidations. The market’s downturn reflects reduced investor confidence in a quick recovery for meme coins and the broader crypto space.
about Dogecoin Leads Meme Coin Slump Amid Iran-Israel Tensions