TechFlow news — Mati Greenspan believes the meme coin market is collapsing because the joke is over, while Charles Edwards points out that meme coins have suffered heavier losses than Bitcoin during the sharp decline. The total market capitalization of memecoins on Solana and Coinbase's Ethereum Layer-2 Base dropped significantly within the past 24 hours, falling by 12% and 19% respectively. The sell-off in meme coins coincided almost exactly with Bitcoin's sharp price drop. According to CoinMarketCap data, the cryptocurrency fell 4.94% over the past 24 hours.
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