MemeCore Prices Plunge 6.4% Amid Sector Headwinds

Recent market volatility has hit MemeCore, with prices dropping by 6.40 percentage points over roughly 25 hours. According to CoinMarketCap, this move is largely driven by increased leverage due to a new futures listing on PrimeXBT and broader sector headwinds affecting meme coins.

The PrimeXBT Futures Listing Increased Leverage And Volatility

The listing of MemeCore (ticker M) on PrimeXBT's PXTrader 2.0 platform, which included the addition of 15 new crypto futures, including MemeCore paired against USDT, increased leverage access and introduced cross asset basket trading.

However, the negative price reaction is more likely due to traders using the new futures, rather than the listing itself being 'bad news'. The sector headwinds affecting meme coins, with altcoin spot volume and exchange deposits surging, point to a broader risk-off phase for higher beta meme assets.