Huge Fall: Bitcoin Tanks by 5.29%, While SLERF, WEN and MYRO Wiped Out Major Gains


On the morning of Tuesday in the cryptocurrency market, the whole scenario is bearish as the prices of major cryptocurrencies are facing major declines in prices. 
The prices of Bitcoin (BTC) and Ethereum (ETH) are down by 5.29% and 6.64%, respectively.

The major impact of this fall is what we can see in memecoins as the whole sector wiping out its previous major gains. The memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) dropped by over 10% in the last 24 hours.

Advertisement

Current Prices Bitcoin (BTC) and Ethereum (ETH):

Bitcoin (BTC), the king of cryptocurrencies, saw its price drop to $66,375, marking a decrease of 5.29% within the last 24 hours. Simultaneously, Ethereum (ETH) experienced a similar fate, trading at $3,348 after a 6.64% decline in value.

Memecoins Wiping out Major Gains:

CRYPTO-PRICES
Source: Coinmarketcap
Advertisement
  1. Slerf ($SLERF), a trending memecoin , suffered a substantial blow, witnessing a staggering -23.41% decrease in its value, now standing at $0.4668. The market cap for SLERF currently rests at $233 million, reflecting the scale of its impact. Over the past seven days, SLERF has seen a notable decline of +38.15%, indicative of the volatility inherent in this niche.
  2. Wen ($WEN), another noteworthy player in the memecoin landscape, experienced a significant downturn, with its value plummeting by -21.30% to $0.0003233 within the last 24 hours. Despite its comparatively lower value per token, the market cap for WEN stands at a formidable $236 million.
  3. Myro ($MYRO), though perhaps less prominent than its counterparts, was not spared from the market’s wrath. With an 18.34% decrease in value, MYRO now trades at $0.2607. Despite its smaller market cap of $249 million, MYRO’s decline underscores the pervasive nature of this downturn.

In conclusion, Tuesday morning delivered a sobering reminder of the inherent volatility within the cryptocurrency market. While major players like Bitcoin and Ethereum grappled with significant declines, memecoins such as SLERF, WEN, and MYRO found themselves wiping out major gains accumulated in recent times.

Comments are closed.