Crypto Market Falls Broadly, Meme Sector Down Nearly 4%, Only SocialFi Relatively Resilient

November 12 — According to SoSoValue data, the crypto market as a whole is trending lower with choppy trading. The Meme sector fell 3.77% over 24 hours; within the sector, Pepe (PEPE) dropped 16.97%, while Useless Coin (USELESS) and Bonk (BONK) fell 7.86% and 4.90% respectively.

In other sectors, CeFi fell 0.25%, though Cronos (CRO) rose 3.60%; Layer1 fell 0.88%, with NEAR Protocol (NEAR) down 1.99%; PayFi fell 1.17%, with Zcash (ZEC) down 3.38%; DeFi fell 2.43%, with Uniswap (UNI) down 9.41%; and Layer2 fell 2.95%, with Arbitrum (ARB) down 8.63%.

In addition, only the SocialFi sector was relatively resilient, gaining 4.50% over 24 hours; within the sector, Gram (GRAM) rose 5.56%.