Memecoin Market Plunges as Bitcoin Remains Steady

Memecoins have experienced a significant sell-off across the board, with prices dropping sharply in the past 24 hours. This follows Bitcoin’s relatively steady performance, as analysts suggest speculative assets like meme coins thrive on market momentum and hype. When Bitcoin remains stable, trading volume and liquidity in meme coins often diminish, leading to price declines. The recent dip is a reflection of the broader crypto market downturn, with nearly all altcoins experiencing losses on the daily timeframe. Experts point to the Libra scandal as a major contributing factor to this decline.