Binance’s Meme Coin Picks Plunge: Is the Exchange Driving the Hype?
- Meme coin sector’s market cap stands at a significant $114 billion with $20 billion traded in the past day.
- Market leaders DOGE and SHIB plunged 9.6% and 15.29% in the past week alone.
- Meme coins derive their value from hype and lack any inherent value.
Binance is facing a steep decline in the value of several meme coins listed on its platform. These tokens, which lack fundamental value, remain among the riskiest investments in the crypto space. The price slump highlights the inherent volatility in meme coins and raises questions about Binance’s role in fueling investor hype.
The meme coin market is worth $114 billion, with $20 billion traded in the past 24 hours, but it remains highly volatile and unpredictable.
Major Meme Coins See Significant Declines
Data from CoinMarketCap shows meme coins, including Dogecoin (DOGE) and Shiba Inu (SHIB), recorded sharp declines of 9.6% and 15.3% respectively over the past week. Meanwhile, newer entrants like OFFICIAL TRUMP (TRUMP) and Pudgy Penguins (PENGU) dropped 7.6% and 2% in the past 24 hours alone. Over a week, PENGU plummeted 22%, while dogwifhat (WIF) sank 21%.
Even Pepe (PEPE), previously the third-…
The post Binance’s Meme Coin Picks Plunge: Is the Exchange Driving the Hype? appeared first on Coin Edition.
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Binance’s Meme Coin Picks Plunge: Is the Exchange Driving the Hype?
- Meme coin sector’s market cap stands at a significant $114 billion with $20 billion traded in the past day.
- Market leaders DOGE and SHIB plunged 9.6% and 15.29% in the past week alone.
- Meme coins derive their value from hype and lack any inherent value.
Binance is facing a steep decline in the value of several meme coins listed on its platform. These tokens, which lack fundamental value, remain among the riskiest investments in the crypto space. The price slump highlights the inherent volatility in meme coins and raises questions about Binance’s role in fueling investor hype.
The meme coin market is worth $114 billion, with $20 billion traded in the past 24 hours, but it remains highly volatile and unpredictable.
Major Meme Coins See Significant Declines
Data from CoinMarketCap shows meme coins, including Dogecoin (DOGE) and Shiba Inu (SHIB), recorded sharp declines of 9.6% and 15.3% respectively over the past week. Meanwhile, newer entrants like OFFICIAL TRUMP (TRUMP) and Pudgy Penguins (PENGU) dropped 7.6% and 2% in the past 24 hours alone. Over a week, PENGU plummeted 22%, while dogwifhat (WIF) sank 21%.
Even Pepe (PEPE), previously the third-…
The post Binance’s Meme Coin Picks Plunge: Is the Exchange Driving the Hype? appeared first on Coin Edition.
Read More
Binance Lands $2 Billion From MGX, Deal Done Entirely in USD1 Stablecoin