Meme Crypto Segment Collapses, Loses 12% Overnight: Here Are Worst Performers

Today, Jan. 8, 2024, the entire cryptocurrency sphere is in red. Bitcoin (BTC), the largest crypto, plummeted from $102,000 to $95,200

output: As Bitcoin (BTC) failed to sustain levels above $100,000 for the fifth attempt in a row, the cryptocurrency market crashed by 8.3% in a few hours. Here's why meme coins suffered the most, while some of them are already back to surging.

Meme crypto segment collapses, loses 12% overnight: Here are worst performers

Today, Jan. 8, 2024, the entire cryptocurrency sphere is in red. Bitcoin (BTC), being the largest crypto, plummeted from $102,000 to $95,200, erasing 5.5% from its aggregated market capitalization. Notably, the daily volume of Bitcoin (BTC) liquidations crossed $127 million, out of which 86% were longs.

The meme coin segment suffered even more pain as its capitalization fell by $15 billion overnight. Among the worst performers were Floki Inu (FLOKI) and Bonk (BONK), which lost around 14% each in less than 24 hours.

Another worst performer was Ai16Z (AI16Z), which lost 13.9% and nearly slipped below the $2 billion capitalization level. At press time, the asset was trading at $1.82.

The two largest meme coins, Dogecoin (DOGE) and Shiba Inu (SHIB), also posted double-digit losses. On the largest spot exchanges, SHIB dropped to $0.00002148, while DOGE is trading at $0.3465.

In the large-cap league, U.S. Dollar Tether (USDT) finally overtook XRP to become the second-largest altcoin. In the meantime, the Ripple-linked cryptocurrency hit a local bottom at $2.28.

Meet only meme coin that is in green today

As previously reported by U.Today, Bitcoin (BTC) enthusiast Tone Vays revealed yesterday that he opened long positions on BTC at the $100,000 level.

Interestingly, only two altcoins managed to survive the current carnage in green — and a meme coin is on this list. Among the largest "Murad meme coins," SPX6900 (SPX) is up by 3%. As the token cemented its position in the top 100, its price touched $1.44.

With 0.5% overnight growth, Fasttoken (FTN) is the second best performer.

Today, the Crypto Fear and Greed Index left the Extreme Greed Zone and reached 70/100, which is the lowest level since Jan. 2.