Memecoins shed $108.7B in 14 days – The bleed is not over yet

The crypto market sentiment has been largely negative in the past few days, as investors continue to exit their positions, pushing liquidity out of the market. Memecoins have suffered the most losses within this period. Top memecoins, including Dogecoin [DOGE], Pepe [PEPE], and Shiba Inu [SHIB], have lost 57.92%, 39.15%, and 49.37%, respectively, in the past year. Memecoin losses deepen Capital shrinkage across the memecoin market segment has been more brutal compared to other altcoins in the market. CryptoQuant data showed that memecoins, presently valued at $25.76 billion, now represent about 3% of the total altcoin market capitalization. The growing selling pressure is evident in the Cumulative Buy/Sell Volume Difference chart for the memecoin market.

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