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This dramatic plunge echoes a similar scenario from this weekend when Donald Trump’s meme coin, "Trump," flipped $SHIB as the second-largest meme coin and even rivaled $DOGE for dominance. With both Trumps now flexing their meme coin muscles, the traditional toppers of the category are finding their market caps under heightened pressure.
Adding fuel to the fire, Bitcoin's price drop to $100,000 only exacerbated the bearish trend across the crypto market. Given $DOGE and $SHIB’s tight correlation to BTC, they naturally slumped in tandem.
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