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The Cryptomarkt saw a sharp fall of $ 120 billion in market capitalization, led by heavy losses in top memecoins such as Doge, Shib and Pepe. Bitcoin remained stable near $ 119k.
Crypto markets are in red today, with TopMemecoins that lead a broader sale that has wiped out more than $ 120 billion from global market capitalization.
From legal roadblocks in the US to brewing uncertainty in the India exchange ecosystem, caution has taken a dive.
Market -wide DIP wipes $ 120 billion
From the moment of printing, The total crypto market capitalization Fell from a highlight of $ 3.92 trillion to a low of $ 3.80 trillion within a 24-hour window, which feeds a sharp fall of $ 120 billion.
Source: TradingView
While the market showed signs of recovery around the level of $ 3.85 trillion, the total momentum remained fragile.
Hours volume climbed to $ 316.96 billion, an increase of 0.58%, indicating reactive trade behavior instead of new inflow.
Memecoins bleeding while Bitcoin is sleeping
Topmemecoins have shifted blood.
Dogecoin [DOGE] Fat 7.99%, Shiba Inu [SHIB] Fell 6.30%and Pepe [PEPE] Cut 9.06% in the last 24 hours.
Source: Coinmarketcap
Meanwhile, Bonk [BONK] and floki [FLOKI] Placed similar losses of more than 9%, while Dogwifhat [WIF] fell 10.91%.
The sharpest decline emphasizes volatility in lower tokens and came from Fartcoin [FARTCOIN]that crashed 17.52%.
Even Trump theme and meme-narrative assets such as official Trump [TRUMP] and SPX6900 [SPX] were not spared.
Source: TradingView
Bitcoin [BTC]However, it remained relatively stable. At the time of the press, it floated almost $ 119,000, with its daily RSI at 60.9; Suggest neutral momentum. The OBV did not show a significant rise that reinforced a lateral trend.
The consolidation of BTC proved that it was not the primary engine of the latest volatility, because traders threw risky meme activa instead.
Newspaper heads weigh heavily
The wider market dip can be influenced by a number of factors.
The American SEC postponed its decisions about both the Truth Social Bitcoin ETF (now owed on September 18) and the Solana Trust Conversion (October 10) of Grayscale, which caused constant uncertainty.
Meanwhile, in India, Coinbase reports that explored a possible takeover of Coindcx, after the appreciation of the latter fell from $ 2.2 billion to less than $ 1 billion, after a $ 44 million hack.
Although Coindcx is stabilized, the news may have strengthened market-wide caution and sales-side pressure.