Bitcoin dropped from a price of $100,000 on Monday morning to below $95,000 by late afternoon, with a dip that rocked the crypto market and generated over $800 million in liquidations in less than an hour.
While Bitcoin has recovered a fair bit since then, meme coins like Dogecoin and Shiba Inu are still showing significant damage, with the broader meme coin category down more than 15% over the past day per data from CoinGecko.
Dogecoin is still down 10% over the last 24 hours at a current price of $0.393, only showing a modest recovery after dipping below $0.39 late Monday. The original and largest meme coin by market cap is now down 3% on the week, and has fallen sharply since touching a three-year high price of $0.48 over the weekend.
Other high-value meme coins have fallen harder, with Shiba Inu (SHIB) down 12% to $0.000026, Dogwifhat (WIF) falling a sizable 18% to $2.88, Bonk (BONK) dipping 16% to $0.000037, and Floki (FLOKI) slipping 15% to $0.00023.
The only meme coin in the top 100 cryptocurrencies by market cap that isn't down by a double-digit percentage over the past day is Pepe (PEPE), which has dipped more than 7% at a current price of $0.000025.
Bitcoin, by comparison, has made up substantial ground at a current price of $97,376, down just 1.3% over the past day. Ethereum and Solana are both down by nearly 6% during the span, while the recently surging XRP still shows a nearly 11% drop on the day and Cardano has fallen by over 11%.