Cryptocurrency markets exhibited extreme volatility this week, with MemeCore, Four, and Conflux recording significant gains while Fartcoin, Bonk, and Virtuals Protocol suffered steep declines. The divergence occurred against a backdrop of deteriorating U.S. economic indicators and institutional capital outflows.
MemeCore (M) surged over 35% following a 50% post-ICO decline, leading the gainers alongside Four (FORM) and Conflux (CFX) in sharp recoveries. Conversely, Fartcoin (FARTCOIN) plummeted 29%, Bonk (BONK) ended a five-week rally with a 24.6% drop, and Virtuals Protocol (VIRTUAL) slid 24%.
Heavy memecoin volatility stemmed from speculative trading patterns and abrupt sentiment shifts, with technical indicators like MACD flips and RSI levels influencing momentum. Bitcoin (BTC) fell below $113,700 and Ethereum (ETH) lost over 5% as weak U.S. jobs data intensified recession fears.
Market sentiment further weakened due to consistent cryptocurrency ETF outflows and uncertainty surrounding U.S. regulatory policy updates, compounding investor caution during the economic uncertainty.