BitMEX Exchange Triggers Meme Coin Shakeup as PEPE Plummets 30%, Traders Eye New Plays

BTCC / BTCC Square / Global Cryptocurrency /

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2025-08-06 15:15:32

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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