Crypto Market Retreats as Meme Tokens Lead Daily Declines

The crypto market experienced a decline after several days of gains, with sector performance data indicating renewed caution across digital assets. Figures from SoSoValue showed losses spreading through most major crypto categories over the past 24 hours. The Meme sector recorded the highest daily loss among the major narratives, falling by 2.72%.

The SocialFi sector remained one of the few areas to finish the session in positive territory. Bonk (BONK) declined by 8.57%, while MemeCore (M) dropped by 13.17%. BUILDon (B) recorded the largest decline among the highlighted assets, falling 19.36%.

The wider crypto market also recorded negative trading performance. Total crypto market capitalization stood at $2.18 trillion, down by 0.28%, while the CMC20 Index traded between $128.95 and $128.65, posting daily declines of 0.54% and 0.46%, respectively.

Market sentiment also remained subdued. The Crypto Fear & Greed Index registered a reading of 28, placing sentiment in the Fear zone and reflecting continued caution among market participants.