MEMEFI (MemeFi) falls 21.06% in 24 hours

Gate News Bot news, on August 8th, according to CoinMarketCap, as of the time of publication, MEMEFI (MemeFi) is currently priced at 0.00 USD, having fallen by 21.06% in the last 24 hours, with a high of 0.01 USD and a low of 0.00 USD. The current market capitalization is approximately 30.4 million USD.

MemeFi is a leading Telegram game and Web3 Meme universe with 52 million players. The project introduces users to blockchain through gamification and large-scale use cases. MemeFi has partnered with the Sui blockchain ecosystem, and the MEMEFI token will be issued on Sui, providing a low-cost, fast, and user-friendly claiming experience. The project has also collaborated with OKX exchange, and the MEMEFI token has been listed for trading on OKX. MemeFi plans to complete milestones such as an airdrop checker, global marketing campaigns, token generation events, and listings by the end of 2024.

MEMEFI recent important news:

1️⃣ Perpetual contracts will be delisted soon MEMEFI perpetual contracts will undergo automatic settlement and delisting on August 11, 2025, at 09:00 (UTC). This decision may significantly impact the trading liquidity and market depth of MEMEFI, and is one of the main factors leading to the recent sharp price fluctuations.

2️⃣ Closing Time Limit Users need to complete their closing positions before 08:30 (UTC) on August 11, 2025. This time limit may prompt some investors to close their positions early, thereby exerting downward pressure on the MEMEFI price in the short term.

3️⃣ Liquidation mechanism activated The IOCO mechanism will be activated to handle forced liquidation one hour before contract settlement, and any unexecuted portions will enter the ADL process. This mechanism may lead to significant market fluctuations and is an important reason for the recent sharp fall in MEMEFI prices.

From a technical perspective, the MEMEFI price has experienced a significant fall in the past 24 hours, mainly influenced by the upcoming contract delisting event. Considering the uncertainty faced by the market, MEMEFI may continue to be under pressure in the short term. However, as the top-ranked coin in terms of popularity, MEMEFI may still attract speculative funds' attention. Investors should closely monitor market movements and carefully assess risks.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.