I am not worried.
Crypto is like a rubber band....this is just the coiling action...once it is released, this sucker will really move.
We witnessed this over and over.
I think this time might be made a bit worse since there are a lot of people you referred to in the MEME....they are the ones who are new to the game and equate moves here like the stock market (well at least before today...the DOW has a crypto-like move).