Memecoins underperform the wider crypto market after double-digit daily losses surpass the sell-off in BTC and ETH.
Memecoins like Dogecoin (DOGE), Shiba Inu (SHIB) and Dogwifhat (WIF) were among the worst-performing cryptocurrencies on Dec. 10, wiping out a significant part of the gains made during the Donald Trump-fueled rally a few weeks ago.
The latest drop in memecoin prices has seen the total market capitalization of the sector shrink to reach a three-week low of $119.6 billion as of Dec. 10.
Related: Bitcoin sees most liquidations since 2021 as ‘crazy’ reset wipes $1.6B
