Dogecoin is once again at the forefront of the meme coin market downturn, leading losses amid rising geopolitical tensions between Israel and Iran. The notorious dog-themed cryptocurrency has dropped nearly 6% in the last 24 hours, trading below $0.178, marking a 23% decline over the past month and over 75% down from its peak of $0.73 in 2021. Other meme coins like Fartcoin and SPX6900 have experienced even more significant losses, with downturns exceeding 9% in the same period. This mass sell-off has not been isolated to meme assets; the broader crypto market is impacted, accumulating over $1.13 billion in liquidations. Bitcoin and Ethereum have also faced substantial drop-offs, with Bitcoin down to $104,343 and Ethereum sinking to $2,552, reflecting a broader risk-off sentiment in response to escalating Middle Eastern conflicts. Overall, the meme coin sector is underperforming major cryptocurrencies, indicating a significant market shift as tensions unfold.

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