Analyst Darkfost said Bitcoin has seen a maximum drawdown of 54% since reaching a peak in October last year, with the current price still about 35% below that high. Over the same period, cumulative selling pressure in Binance’s Meme coin segment has exceeded $1.4 billion, making it one of the hardest-hit sectors in the current bear market. Darkfost said Meme coins lack fundamental support and are driven mainly by market sentiment and cultural trends. He added that the sector’s share of total altcoin market capitalization has fallen to a record low of less than 3%, a sign of continued liquidity outflows. In his view, Meme coins tend to face steeper downside pressure during market corrections, and investors should stay alert to the risks tied to the segment.
According to ChainCatcher, analyst Darkfost said Bitcoin has recorded a maximum drawdown of 54% since hitting a peak in October last year, and its current price remains about 35% below that high.
During the same period, cumulative selling pressure in Binance’s Meme coin segment has surpassed $1.4 billion, making it one of the sectors hit hardest in the current bear market.
Darkfost said Meme coins lack fundamental support, with prices driven mainly by market sentiment and cultural trends. He added that Meme coins now account for less than 3% of total altcoin market capitalization, the lowest level on record, reflecting continued liquidity outflows from the sector.
He said Meme coins usually face greater downside pressure during market corrections and warned investors to watch the related risks.
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