The recent frenzy surrounding meme coins like PEPE and its derivatives has attracted a significant amount of capital, leading to massive gains for these digital assets. However, as with any highly speculative investment, the risk of a sudden downturn is always present.
Moreover, the recent cash-outs by the Ethereum Foundation and Vitalik Buterin have added to the growing concerns about the overall stability of the cryptocurrency market. These moves have led some investors to reevaluate their positions and withdraw their funds from exchanges, potentially exacerbating the effects of the meme coin correction.
While a full-blown cascade of liquidations has not yet materialized, the current market conditions warrant caution from investors. With increased exchange withdrawals and high-profile cash-outs, it is essential for market participants to stay vigilant and be prepared for any sudden shifts in market sentiment.Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.
Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.