Meme Coins Plummet As Crypto Crash Deepens, Fear And Greed Index Plunges To Lowest Since January 2023

Updated: 08 July 2024

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Meme coins plunged 9% as the crypto crash deepened and the Crypto Fear and Greed Index plummeted to its lowest point since January last year.

Frog-themed Pepe (PEPE) was the biggest loser in the past 24 hours with a 10% loss, while Solana meme coin Dogwifhat (WIF) registered the second largest fall to trade at $1.68 as of 2:40 a.m. EST.

BODEN, TREMP And MOTHER Suffer In Latest Crypto Crash

Shark Cat (SC) bled the most in the latest crypto crash after its price dived more than 29%. This was also a continuation of its negative streak over the past 7 days, with the meme coin 52% in the red on the weekly timeframe.

Biggest meme coin losers over the past 24 hours (Source: CoinGecko)

Political meme coins Jeo Boden (BODEN) and Doland Tremp (TREMP) saw their prices fall 26% and 24%, respectively.

Meanwhile, the meme coin linked to Australian rapper Iggy Azalea, Mother Iggy (MOTHER), plunged more than 21% after the crypto had earlier recorded an intraday high at $0.04415.

Titans Take A Knock Amid The Crypto Crash

Market leaders Bitcoin (BTC) and Ethereum (ETH) also fell. BTC briefly dropped below the key $55K mark, but has since been able to recover to trade at $55,608.64. Despite reclaiming a position above this major price point, the flagship crypto was still in the red by more than 3%.

NEWS: #Bitcoin is now trading below $55K.

Where do you see the market going? pic.twitter.com/shMR9oL64y

— CoinGecko (@coingecko) July 8, 2024

ETH dropped over 3%, taking the price of the largest altcoin by market cap below $3K.

While the crypto and meme coin markets continue to bleed, some investors are taking shelter in presales that will not be exposed to market forces until they list.

Three of the best crypto presales right now are WienerAI (WAI), which has raised more than $7.2 million, Tamagotchi remake PlayDoge (PLAY) with $5.4 million, and Layer 2 token Pepe Unchained (PEPU), which has amassed $2.7 million in funding in a little more than two weeks.