Title: Meme Coins Experience Significant Losses as Bitcoin Price Falls Below $65,000

In a day marked by a decline in crypto markets, meme coins have taken the biggest hit, with Pepe, Bonk, and Dogecoin all suffering substantial losses. While Bitcoin is also experiencing a drop, meme coins and tokens have taken a harder hit after their impressive rally last week.

According to CoinGecko, Solana-based Bonk has lost over 12% of its value in the past 24 hours, now priced at $0.00002306. Despite today's correction, the token has seen a remarkable increase of over 3,400% in the past year, fueled by the broader Solana hype.

Another heavily impacted meme coin is Pepe. It has seen a drop of over 12%, yet the Ethereum-based token still boasts a 40% increase over the last 30 days. Within the top 20 coins and tokens, meme coins have fallen more drastically than Bitcoin itself. Dogecoin, the ninth-largest digital asset, has experienced a significant decrease after reaching its highest price since 2021 last week. Currently priced at $0.18, it has dropped by 7% in the last day. Shiba Inu, Dogecoin's rival, has also suffered a loss of close to 7% in the past day.

One meme coin that has managed to avoid significant losses is Dogwifhat. Although down by approximately 1% in the past day, it was the biggest gainer among cryptocurrencies just last week.

Meme coins and tokens, a subgroup of digital assets based on internet memes and popular culture, are known for their volatility. They can quickly surge in value but can also experience rapid plunges or even disappear completely from the market.

This asset class has seen significant growth alongside Bitcoin's upward trajectory this year. Meme coin trading has gained traction on the Solana blockchain, driving decentralized exchange (DEX) trading volume to a record high in March. Ethereum scaling network Base has also witnessed a surge in meme coin activity, reaching new heights over the weekend.

As of the time of writing, Bitcoin has seen a 4% decrease in the past day, with a price currently just below $66,000. Earlier today, it briefly dipped below the $65,000 mark before quickly rebounding. Nevertheless, the leading coin has experienced an 11% loss since reaching an all-time high price of $73,737 on March 14.