According to data released by Charlie Bilello, CMO of Creative Planning, declines from all-time highs vary significantly across major assets. The S&P 500 is down 3%, Microsoft is down 6%. Palantir, NVIDIA, Amazon, Tesla, Meta, and AMD have declined between 14% and 24%. Gold is down 31%, Google is down 32%, SpaceX is down 41%, and Netflix is down 54%. In cryptocurrencies, Bitcoin is down 39% from its peak, and Ethereum is down 55%. Dogecoin, Fartcoin, TrumpCoin, and MelaniaCoin have declined by 90%, 95%, 98%, and 99%, respectively.
Major meme coins have fallen over 90% from their all-time highs.
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Summary
On-chain data shows that major meme coins have lost over 90% from their all-time highs. Dogecoin, Fartcoin, TrumpCoin, and MelaniaCoin have declined by 90%, 95%, 98%, and 99%, respectively. Inflation data offers little indication of relief for speculative assets. Market participants are closely monitoring on-chain metrics for signs of recovery.
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