With Bitcoin (BTC) reaching its lowest level since mid-November, major cryptocurrencies are on the list of worst performers over the past 24 hours. Meanwhile, the liquidation tsunami wiped out more than half a billion cryptocurrency positions.

Meme coins PENGU, AI16Z recorded double-digit losses today

In the past 24 hours, the meme cryptocurrency sector lost 8.8% of its market value. Pudgy Penguins (PENGU), a token linked to the eponymous NFT drop, fell 11%, while AI agent-themed meme cryptocurrency AI16Z erased 15.4% from market cap.

Ai16Z (AI16Z), an AI-controlled DAO meme coin, is suffering the most in the meme sector. In just seven days, its value decreased by about $1 billion. As a result, the asset lost its place among the top 100 cryptocurrencies by market cap. The price of the AI16Z has dropped to less than $1 as of press time.

Bonk (BONK), another popular cryptocurrency with a large community, lost 10.9% of its total cap. Its market capitalization fell below $2 billion, while the price tried to stay above $0.000025.

Major cryptocurrency Floki Eno (FLOKI) lost 9.1%, while PEPE, SHIB and WIF stocks fell 6.7% each. Dogecoin (DOGE), the largest meme cryptocurrency, is down just 5.9%.

$550,000,000: Cryptocurrency markets are experiencing a liquidation storm

Bitcoin (BTC), the first cryptocurrency, lost 3.8% today. Interest rates briefly fell to an eight-week low of $90,200, but then recovered to $91,500. The market index fell by 6.9% in the past 24 hours.

The cryptocurrency collapse sparked a massive liquidation wave. according to Queen Glassmore than $547 million worth of cryptocurrency derivatives were liquidated in the past 24 hours. Eighty-five percent of liquidated contracts were long. Nearly 40% of liquidations occurred in the past four hours.

Binance's long BTCUSDT trade, worth $8.21 million, was the largest single liquidation.

The data showed that the Cryptocurrency Fear and Greed Index by Alt fell from 69/100 to 61/100 overnight, but remains in the “Greed” zone.