# Memecoin Meltdown

*Author: Bankless*
*Published: Jun 21, 2024*
*Source: https://www.bankless.com/memecoin-meltdown*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/06/Frame-50572--1--2.png)](https://www.bankless.com/sponsor/mantle-1706216729?ref=the-next-crop-of-restaking-tokens&email=true)

  

    Memecoin Meltdown
    
  

  
  Published on June 21, 2024

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[**Sponsor: Mantle**](https://www.bankless.com/sponsor/mantle-1706216729?ref=the-next-crop-of-restaking-tokens&email=true) — Mass adoption of decentralized & token-governed technologies.

[Visit mantle.xyz to Learn More](https://www.bankless.com/sponsor/mantle-1706216729?ref=the-next-crop-of-restaking-tokens&email=true)

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      NEED TO KNOW
    
    
  
  
    
SOL Getting an ETF?
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/06/Group-15--55-.png)](https://www.bankless.com/dashboard)- 🇨🇦 **Is SOL Getting an ETF in Canada?** 3iQ has filed for a SOL-based exchange-traded product in Canada.
[*Read more on Bankless.com*](https://www.bankless.com/solana-etp-canada)
- 🟠 **Gemini's Winklevoss Brothers Endorse Trump.** The brothers each donated $1M in BTC to Donald Trump's campaign.
[*Read more on Bankless.com*](https://www.bankless.com/geminis-winklevoss-brothers-endorse-trump)
- **✈️ Pantera Doubles Down on TON.** Pantera raises a second dedicated TON fund.
[*Read more on Bankless.com*](https://www.bankless.com/pantera-doubles-down-on-ton)

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    MARKET VIBES

  
  

Memecoin Meltdown
  
  
   
     
   
     
    
 

**📸 Daily Market Snapshot: ***June has been brutal for altcoins, but few have fared worse than hot memecoins. $BONK, $FLOKI, and $SHIB are down 40-50% from their 30-day highs. $WIF touched $4 in the final days of May but is now trading at $1.82 – a 55% decline. It dropped 10% today.*

Prices as of 5pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.34T
       

  
    
    ↘ 1.0%
    
  

   
    
    ↘ 1.7%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $64,117
       

  
    
    ↘ 1.4%
    
  

   
    
    ↘ 2.4%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $3,519
       

  
    
    ↘ 0.1%
    
  

   
    
    ↗ 3.1%
  
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/5426.png)
    

  **SOL**
   
          $133
       

  
    
    ↘ 0.6%
    
    
  

   
    
    ↘ 5.9%
    
  

  

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🔒**New Token Rating: **Solana has already weakened by 30% against Ethereum during the past month. Is **SOL** poised for further losses?[Unlock SOL Token Analysis](https://bankless.com/solana-token-rating-6-20/)

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ANALYSIS

  
  
    
   
The Next Crop of Restaking Tokens
  
  
   
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/06/image---2024-06-21T161853.380-1.png)](https://www.bankless.com/the-next-crop-of-restaking-tokens)With EIGEN rolling out the second phase of its major drop, restaking bulls are wondering what comes next. 

In the [*Bankless Airdrop Hunter*](https://www.bankless.com/airdrop-hunter), our analysts have been dialing into the tokenless restaking protocols that are poised to hit it big – focusing on both the liquid restaking token projects built around EigenLayer and the more ambitious competitors trying to straight-up topple EigenLayer's kingpin status.

*Below, let's dig into the** 5 restaking ecosystem protocols** we're hunting* 👇

[Read the Analysis](https://www.bankless.com/the-next-crop-of-restaking-tokens)
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*This article is brought to you by [MetaMask](https://www.bankless.com/sponsor/metamask-1776260643?ref=memecoin-meltdown)*