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The stock quoted a 52-week high price of Rs 5654.0 and low of Rs 3145.0.

Not only memecoins, other major tokens and altcoins have fallen sharply in the last 24 hours, thanks to the rising geopolitical worries and inflationary concerns.

A total of 413,608 shares changed hands on the counter till 02:10PM (IST)

The pan-European STOXX 600 index fell 1.7% by 0810 GMT, entering its fourth straight session of losses. The benchmark has shed nearly 10% from its all-time high in early January.

“If inflation continues to move up and becomes more entrenched, then there will also be a negative impact on real consumer incomes. It can impact corporate profitability as well. It is a fine balance and at the margin, the role for monetary policy actually is lesser primarily because the concerns around inflation are rising.”

According to DeFi Pulse, the total value locked in DeFi protocols is over $78 billion — a growth of 10x since May 2020. This represents the current value of all deposits locked in the form of cryptocurrencies for lending, staking, liquidity pool and so on.

“If we are going into a rough patch for the US market, than that could prove to be a great positive. One good thing about India is that foreigners are not loaded to the gills with Indian stocks like they were in 2008. I do not see a lot of pent-up selling from foreigners because that selling has largely taken place already.”

The Nikkei share average ended 1.71% lower at 26,449.61, but escaping losses that at one point were as steep as 2.5%. The broader Topix shed 1.55% to 1,881.08, also marking a fourth straight losing session.

The benchmark S&P/ASX 200 index closed 1% lower at 7,161.3 after hitting a two-week low earlier in the day. It gained 0.2% on Monday.

Proceeds raised so far this year by companies going public in Europe, the Middle East and Africa are down 79% to $3.1 billion compared to the same period last year, when companies raised $15.1 billion in what was a record-breaking year for equity capital markets activity in the region, according to Refinitiv data.