Meme Coin Update: Meteora Founder Faces Lawsuit Over Libra and Melania, CPI Sparks Concerns

Bitcoin Market Update: Bitcoin has dropped 3% to $108,500, with a notable whale taking a $235 leveraged short position, raising concerns of a potential flash crash. Altcoins are also under pressure as traders await U.S. inflation data that could influence Federal Reserve rate policy.

Meme Coin Developments: The meme coin market saw a 2% decline in market cap, but notable gains were recorded by币安人生 (+102.45%) and CREPE (+95.94%). Newsmax plans to invest $5 million in Bitcoin and the TRUMP meme coin, while Dogecoin's House of Doge expands its real-world use through sports club acquisitions.

Meme Coin Performance: The meme coin sector outperformed other crypto sectors, with only MemeCore and Floki showing gains among the top 20 meme coins. The trading volume remains low, and new meme coin launches continue at a steady pace.

Legal Issues and Market Trends: A class action lawsuit has emerged against the founder of Meteora for alleged scams involving meme coins, while various meme coins across different blockchains have experienced mixed performance, with some facing significant declines.