PENGU Drops 11% as Memecoins Take 3 of Crypto's 5 Biggest Daily Losses
- —PENGU slid 11%, leading the day's five biggest decliners
- —PUMP fell 8.90% and PEPE lost 7.9%
- —LIT (infrastructure) and FET (AI sector) rounded out the bottom five
- —Meme tokens are typically the first to sell off when risk appetite fades
Why it matters: Weakness in memecoins signals fading risk appetite; sustained declines in volume would point to a broader retreat from the sector.
Source: Coindoo