Meme Coin Market Plummets Amid US-Iran War Escalation

The meme coin market has been hit hard by the escalating conflict between the United States and Iran. According to CoinMarketCap data, the meme coin market has declined by about 3.26%, reaching $29.96 billion.

This decline is a result of traders pulling back from cryptocurrencies, especially speculative meme tokens like Dogecoin, Shiba Inu, and Pepe Coin. The trading activity over the past 24 hours has also plummeted by a notable 20%, pushing the volume down to $2.97 billion.