The post Meme Coin Prices Tank as Some Traders Move Funds Into Pepe Unchained ICO appeared on BitcoinEthereumNews.com.

The meme coin market is in freefall, with big names like PEPE and DOGE falling by double-digits in the past 24 hours. But while most of these coins are struggling, one project stands out. Pepe Unchained (PEPU) continues to thrive – with its ICO closing in on the $17 million mark. Meme Coins Hit Hard as $7 Billion Wiped Off Market Cap Meme coin investors are getting hammered right now. What was supposed to be a strong October has turned into a total disaster. In just the past few days, over $7 billion has been wiped off the meme coin sector’s total market cap. It’s like watching a slow-motion train wreck. All of the big players are taking hits. DOGE is down 10%, PEPE and FLOKI are down 15%, and SUNDOG is down 22%. Spot trading volumes for meme coins have actually jumped to $9 billion in the past 24 hours – but that’s likely due to the volume of panic selling. The Crypto Fear & Greed Index has also dropped to 42. That means it’s back in “Fear” mode. Now, everyone’s wondering: Is this just a blip, or is it the start of a more extended “crypto winter”? No one knows right now, but the situation for meme coins is looking pretty grim. Spot Crypto ETFs Also Take a Hit Meme coins aren’t the only ones feeling the heat right now. Spot ETFs, which many view as crypto’s big move toward mainstream adoption, are also taking a hit. Fidelity’s ETH ETF just had its worst day ever, losing $25 million in a single session. That’s a whole lot of investors heading for the exit door. But it’s not just Ethereum. Spot Bitcoin ETFs are seeing a similar trend, with a massive $242 million pulled out of them yesterday. Fidelity’s…

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Filed under: News - @ October 2, 2024 7:28 pm