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BitMEX Exchange Triggers Meme Coin Shakeup as PEPE Plummets 30%, Traders Eye New Plays
BitMEX Exchange Triggers Meme Coin Shakeup as PEPE Plummets 30%, Traders Eye New Plays
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BitMEX exchange News -
Bitcoin's recent volatility has injected fresh energy into large-cap cryptocurrencies, with institutional flows driving momentum. Yet the meme coin sector tells a different story. Legacy tokens like Dogecoin (DOGE), shiba inu (SHIB), and PEPE have failed to sustain upward trends, with PEPE plunging 30% after BitMEX's Arthur Hayes liquidated his $414,000 position.
The sell-off triggered a market-wide reassessment of top meme coins, with 3 trillion Pepe tokens dumped within hours. Traders are now pivoting toward agile, low-cap alternatives as confidence erodes in established projects. This capital rotation reflects growing skepticism about the staying power of first-generation meme assets amid shifting macroeconomic winds.
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