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CryptoIntelligence 2024-04-15 14:27:05

Meme Coins Plunge Amid Market Turmoil and Middle East Tensions

Meme Coins Plunge Amid Market Turmoil and Middle East Tensions

The meme coin sector of the cryptocurrency market has recently suffered significant losses amid broader declines across the industry. The general downturn was magnified last week as cryptocurrencies struggled to maintain positive momentum, largely due to escalating tensions in the Middle East that have unnerved investors. The conflict’s impact on the crypto market became particularly evident when news surfaced of Iranian fighter drones heading towards Israel. This development triggered a rapid drop in the value of popular meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF), each falling by more than 10% within hours. Meme coins, known

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