Every major meme coin is red on the day, most are down 5–12% on the week, and the macro tape gave them no reason to be anything else. PEPE is the odd one out, barely.
September inflation ran a tenth hot across the board, the 10-year sits near 5.3%, and the rate-sensitive end of the tape took the beating. The Dow held up. Don't read too much into that.
A hot CPI print put a Fed hike back on the table, and crypto did exactly what a leveraged, rate-sensitive asset does. Longs got cleaned out; the altcoins fared worse.
The Burnt Tortilla ·
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