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Memecoin Lead Crypto Declines After Weighing on Bitcoin Fees
Memecoins such as Pepe and the recently minted token Ordinals led cryptocurrency prices lower after a weekend surge among the Bitcoin-blockchain-based tokens. Pepe, a frog-themed coin had jumped more than 3,000% since it was launched in April, fell about 30% on Monday, according to data compiled by CoinGecko. It trades at a fraction of one cent. The token known as Ordi, which debuted this weekend and saw its market value climb to as much as $900 million, dropped a similar amount, CoinGecko data shows. “Looks like meme season has come to an abrupt end,” said Mati Greenspan, chief executive officer of Quantum ... (full story)