{"id":33422,"date":"2024-12-10T18:30:12","date_gmt":"2024-12-10T15:30:12","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=33422"},"modified":"2024-12-10T17:03:33","modified_gmt":"2024-12-10T14:03:33","slug":"dogecoin-wif-and-other-memecoins-experience-the-hardest-drop","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/","title":{"rendered":"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop!"},"content":{"rendered":"<p>On December 10, <strong>memecoins<\/strong> like <strong>Dogecoin (DOGE)<\/strong>, <strong>Shiba Inu (SHIB)<\/strong>, and <strong>Dogwifhat (WIF)<\/strong> experienced some of the most significant losses in the crypto market, wiping out a substantial portion of the gains seen during a rally fueled by Donald Trump a few weeks ago. The overall market capitalization of the <strong>memecoin sector<\/strong> dropped to $119.6 billion, a three-week low, reflecting a 21% decrease in the last 24 hours. This marks a sharp decline from the $118 billion market cap seen in late November.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#Dogecoin_Leads_the_Losses\" title=\"Dogecoin Leads the Losses\">Dogecoin Leads the Losses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#Biggest_Liquidation_Event_Since_2021\" title=\"Biggest Liquidation Event Since 2021\">Biggest Liquidation Event Since 2021<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Dogecoin_Leads_the_Losses\"><\/span>Dogecoin Leads the Losses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Dogecoin<\/strong>, the largest <strong>memecoin<\/strong> by market capitalization, led the losses with a 5.6% drop in the past 24 hours, while <strong>SHIB<\/strong> recorded a 10.4% decrease. The <strong>Ethereum-based Pepe (PEPE)<\/strong> was the only top-cap <strong>memecoin<\/strong> to show gains, rising by 1.7%.<\/p>\n<hr \/>\n<p><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-talks-about-the-name-of-a-new-memecoin\/\">Elon Musk Talks About the Name of a New Memecoin!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<p>In addition to price drops, the <strong>open interest (OI)<\/strong> in <strong>memecoins<\/strong> also saw a decline. For instance, <strong>Pnut (PNUT)<\/strong> led the retreat with a 30% drop in OI, followed by <strong>DOGE<\/strong>, which saw a 20% decrease in OI to $3.1 billion. <strong>Memecoin OI<\/strong> fell overall, indicating bearish sentiment as traders closed leveraged positions in anticipation of further price drops.<\/p>\n<p>The broader crypto market experienced a massive drawdown, with over $1.7 billion in <strong>liquidations<\/strong> in just 24 hours. <strong>Memecoin<\/strong> positions saw significant liquidations, with <strong>DOGE<\/strong> longs contributing over $72.6 million to the total liquidations. Similarly, <strong>SHIB<\/strong>, <strong>PEPE<\/strong>, and <strong>WIF<\/strong> saw substantial long liquidations as well, with <strong>PEPE<\/strong> liquidations reaching $7.9 million and <strong>WIF<\/strong> at $3.6 million.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2024-12\/0193b01b-4137-79e0-aae7-b0a8233ed357\" alt=\"memecoin\" width=\"1658\" height=\"1323\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Biggest_Liquidation_Event_Since_2021\"><\/span>Biggest Liquidation Event Since 2021<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This event marks the largest <strong>liquidation<\/strong> event since 2021, resembling the start of the 2022 bear market. A similar event occurred earlier in December when a <strong>flash crash<\/strong> wiped out over $816 million in long positions, including <strong>memecoin<\/strong> losses.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 10, memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) experienced some of the most significant losses in the crypto market, wiping out a substantial portion of the gains seen during a rally fueled by Donald Trump a few weeks ago. The overall market capitalization of the memecoin sector dropped to $119.6<\/p>\n","protected":false},"author":28,"featured_media":31172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[61,393,840,5410,67,2966,68,9969,105,9972,9730,9971,9973,4618,7185,466,484,69,66,9970,3710],"class_list":["post-33422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-bitcoin","tag-crypto","tag-crypto-market","tag-crypto-market-crash","tag-doge","tag-doge-coin","tag-dogecoin","tag-dogecoin-liquidations","tag-ethereum","tag-leveraged-trades","tag-liquidations","tag-memecoin-market","tag-memecoin-market-cap","tag-memecoins","tag-open-interest","tag-pepe","tag-shib","tag-shiba","tag-shiba-inu","tag-shiba-inu-liquidations","tag-wif"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On December 10, memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) experienced some of the most significant losses in the crypto market, wiping out a substantial portion of the gains seen during a rally fueled by Donald Trump a few weeks ago. The overall market capitalization of the memecoin sector dropped to $119.6\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-10T15:30:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-10T14:03:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Yigit Taha OZTURK\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yigit Taha OZTURK\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/\",\"name\":\"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop! - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1.png\",\"datePublished\":\"2024-12-10T15:30:12+00:00\",\"dateModified\":\"2024-12-10T14:03:33+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1.png\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1.png\",\"width\":2560,\"height\":1440},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc\",\"name\":\"Yigit Taha OZTURK\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g\",\"caption\":\"Yigit Taha OZTURK\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/ceyigitt\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop! - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/","og_locale":"en_US","og_type":"article","og_title":"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop! - Coin Engineer","og_description":"On December 10, memecoins like Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) experienced some of the most significant losses in the crypto market, wiping out a substantial portion of the gains seen during a rally fueled by Donald Trump a few weeks ago. The overall market capitalization of the memecoin sector dropped to $119.6","og_url":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/","og_site_name":"Coin Engineer","article_published_time":"2024-12-10T15:30:12+00:00","article_modified_time":"2024-12-10T14:03:33+00:00","og_image":[{"width":1024,"height":576,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1-1024x576.png","type":"image\/png"}],"author":"Yigit Taha OZTURK","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yigit Taha OZTURK","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/","url":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/","name":"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop! - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1.png","datePublished":"2024-12-10T15:30:12+00:00","dateModified":"2024-12-10T14:03:33+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1.png","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/memecoin-1.png","width":2560,"height":1440},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/dogecoin-wif-and-other-memecoins-experience-the-hardest-drop\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Dogecoin, WIF, and Other Memecoins Experience the Hardest Drop!"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/5b75ba41894c1164f25378c9022397fc","name":"Yigit Taha OZTURK","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3c58488c3e042b9f982e35ddee6f6e94f7d62613e8b36ebd312676655fab9908?s=96&d=mm&r=g","caption":"Yigit Taha OZTURK"},"url":"https:\/\/coinengineer.net\/blog\/author\/ceyigitt\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/33422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=33422"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/33422\/revisions"}],"predecessor-version":[{"id":33426,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/33422\/revisions\/33426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/31172"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=33422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=33422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=33422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}