Base, Solana Meme Cryptos Decimated

Shiba Inu (SHIB) and Dogecoin (DOGE) competitors on Solana (SOL) and Base (BASE) blockchains are under pressure as Bitcoin (BTC) dropped below $60,000. In the last seven days, the Base meme crypto scene lost over one-third of its value.

Base meme coins segment loses 24% in 24 hours

The segments of Base (BASE) and Solana (SOL) meme cryptocurrencies are yet again among the most affected categories of altcoins hit by a massive crypto price flush. In the last 24 hours, meme coins on Base (BASE) saw almost 24% of their capitalization erased.

Among all Base (BASE) meme coins, the biggest losses are registered by low-cap assets. However, flagship coins of the Base (BASE) meme crypto ecosystem – BRETT, DEGEN, HIGHER – also witnessed 10%-15% drops. 

Cat-themed meme coins represent the fifth worst affected category on CoinGecko, with 17% lost overnight. However, its leaders – Cat In The Dog World (MEW) and Mog Coin (MOG) – printed tiny 3-4% losses and, therefore, even outperformed the crypto market as a whole.

The Solana (SOL) meme coin ecosystem lost 15% in 24 hours with leaders WIF, BONK and BOME only erasing 1-6% of their prices.

As covered by U.Today previously, meme coins on Solana (SOL) and Base (BASE) were also hit by last weekend’s price plunge.

Crypto liquidations near $400 million

In the last 24 hours, total capitalization of cryptocurrency markets plummeted by 3.9%. Bitcoin (BTC), the flagship cryptocurrency, lost 5.7% of its value.

This flush can be attributed to the end of Binance’s CZ trial and the paltry start of Hong Kong crypto-based spot ETFs.

As a result, numerous Bitcoin (BTC) and altcoin futures traders were liquidated in the last 24 hours. Over $390 million in positions, mostly longs, were erased, CoinGlass’s data shows.

Bitcoin (BTC) and Ethereum (ETH) are responsible for $250 million of this sum.

About the author

Vladislav Sopov