Cryptocurrency Collapse Triggers a Bloodbath of Meme Coins with WIF, FLOKI and BONK Taking the Hardest Hit

The crypto collapse saw the market capitalization of the digital currency market fall by more than 10% as investors fled to safety amid concerns about the outlook for digital assets after the Federal Reserve took a more hawkish stance last week.

The market capitalization of the broader cryptocurrency market fell more than 2% to $2.36 trillion, with CoinShares reporting $600 million in outflows from the industry last week, the largest since the week ending March 22.

Five of the top six currencies suffered double-digit losses, and were the largest in terms of market cap. Dogecoin (DOGE) fell by more than 9%.

Top meme currencies by market cap (Source: CoinMarketCap)

WIF, SHIB, PEPE, FLOKI and BONK are all diving into the latest crypto meltdown

Dujoyvat (WIF) bleeding the most among the top 5 meme coins with a 15% drop to $2.10 as of 2:45 AM EST. FLOKI and Bonk (BONK) posted 24-hour losses of over 12% each, while Pepe (PEPE) and Shiba Inu (SHIB) saw price declines of over 10%.

For many of the top 5 meme coins, the recent corrections were a continuation of their dismal weekly performance. PEPE was the only one to remain in the green over the last seven days before the latest collapse, but it now joins the rest of the pack with a weekly loss of more than 9%.

ZK, FTM and WLD are the most affected altcoins

The price of zkSync (ZK) fell by 25% on its market debut after a controversial airdrop that angered many token holders. Investors were quick to unload their holdings in ZK, resulting in it being the biggest loser in the past 24 hours among the top 100 cryptocurrencies.

Fantom (FTM) and Worldcoin (WLD) were the second and third biggest losers, respectively. The price of FTM fell by 16%, bringing the value of the altcoin down to $0.518. During the same period, WLD also saw more than 16% of its value wiped out.

A market decline may prompt investors to look to pre-sell cryptocurrencies, which offer good upside potential while providing shelter during the current market storm.

Among the analysts’ favorites right now are the hot pre-sales that include PLAY, Silana (Sil), WienerAI (WAI) and Base Dawgz (DAWGZ), all of which received significant fundraising.

PLAY’s pre-sale has reached nearly $4.7 million in funds raised in less than three weeks. WienerAI It moved to the $6 million range.

The Solana ICO SEAL has surpassed $4 million and is now offering investors one last chance to purchase before the pre-sale closes on June 25.

Meanwhile, a new basic code DAWGZ Basewhich aims to become the new Brit (BRIT), has surpassed $1.7 million in funds raised since its launch on June 4.

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