The collapse in the cryptocurrency market is in response to a stock market meltdown, with alt-coins like Solana, Link, and Uniswap down 30% over a week.
When wider stock market sentiment is uncertain, cryptocurrencies often experience significant price swings, with memecoins like Dogecoin and Pepe dropping 27% and 39%, respectively.
Memecoins are considered the riskiest part of the crypto industry, experiencing the most significant market downturns due to their smaller market caps and extreme price volatility.
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