Ethereum and Solana Meme Coins PEPE, FLOKI, WIF Lead Losses as Market Dips
Meme coins experienced significant losses due to geopolitical tensions, with Pepe (PEPE) dropping 8.2% to $0.00001044, Floki Inu (FLOKI) down 5.8% to $0.00007608, and dogwifhat (WIF) declining 8.5% to $0.8151. Other notable declines included Dogecoin (DOGE) at $0.1713, Shiba Inu (SHIB) at $0.00001171, and Fartcoin (FARTCOIN) at $1.15. The meme coin market cap fell 3% to $59.2 billion amid ongoing Middle East hostilities, with broader altcoins like Solana (SOL) and HyperLiquid (HYPE) also retreating. Israel's military actions against Iran and Iran's missile retaliation heightened market fears, prompting a risk-off sentiment that heavily impacted meme coins. Analysts noted the sector's volatility and sensitivity to global events, with whale activity indicating significant asset distribution. Despite some positive developments, such as token burns, traders used them as exit points rather than buying opportunities. Future recovery may depend on geopolitical factors and upcoming Federal Open Market Committee decisions. Bitcoin's decline to $105,866 reflects a broader correction within historical volatility norms.
