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An early Shiba Inu investor transferred 469 billion SHIB, worth approximately $3.64 million, to the OKX exchange, introducing potential selling pressure on the token's price.
The memecoin market, after reaching a peak capitalization of over $140 billion fueled by political token speculation, experienced a severe correction as the hype around election-themed assets dissipated. The collapse of these tokens erased billions in value and highlighted the sector's extreme volatility.
Solana (SOL) is facing significant downward pressure as its network's Total Value Locked (TVL) has fallen by over $10 billion. The decline is compounded by fading demand for Solana-based memecoins, signaling weakening investor confidence and reduced network activity.
HBAR fell 4% to $0.1247, breaking a key support level amid a wider market downturn. The drop was marked by a spike in institutional volume, and the broader crypto market remains cautious following a Fed rate cut.
