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SHIB Rivals BONK, WIF in Green Despite Market Crash
Contents
- Dogwifhat (WIF) and Bonk (BONK) Among Top Performers as Cryptocurrencies Crash
- $578M Wiped Out: Worst Day for Bulls Since Mid-April
Amid the dramatic cryptocurrency market crash caused by the start of Mt. Gox clearing payments, the largest meme coins are looking strong. Of the three best-performing cryptocurrencies in the top 100, two assets belong to the meme cryptocurrency category.
Dogwifhat (WIF) and Bonk (BONK) Among Top Performers as Cryptocurrencies Crash
In the past 24 hours, amidst the painful collapse of cryptocurrency markets, Bonk (BONK), one of the largest multi-chain meme coins, has managed to gain more than 7.5%. BONK’s market cap is just a step away from hitting the major level of $1.5 billion, CoinGecko data He says.
Image of CoinGecko
Its competitor, Dogwifhat (WIF), the most popular meme coin on Solana (SOL), is also in the green. Up 3.2%, its market cap remains above $1.8 billion.
Thus, Dogwifhat (WIF) has become the best-performing cryptocurrency in the top 50. MultiversX (formerly Elrond, EGLD) is the clear leader in the top 100, with gains of 10%.
The aggregate cryptocurrency market capitalization fell by 3.8%. The meme coin segment lost 11.4% of its value in 24 hours.
$578M Wiped Out: Worst Day for Bulls Since Mid-April
Major cryptocurrencies are also in the red: Bitcoin (BTC) lost 2.8%, while the price of Ethereum (ETH) dropped nearly 5% overnight.
As previously reported by U.Today, the global cryptocurrency market has been heaving with news about compensation for victims of the Mt. Gox exchange collapse in 2014. The released BTC and BCH allocations will create selling pressure on cryptocurrencies.
Related
Bitcoin (BTC) traders lost $578 million in liquidations in the past 24 hours, CoinGlass data he says. Of that amount, $446 million were long positions.