Memecoins lose momentum as $40B lost in December
Memecoins surged to as high as $137 billion in December before falling to as low as $92 billion in the same month. The memecoin market lost over $40 billion in December, with traders witnessing massive volatility and shifting opportunities.
Memecoin’s overall market capitalization dropped by about 30% in December, showing a slowdown in momentum and demand for meme-based tokens.
CoinMarketCap data shows that on Dec. 1, the total market cap for memecoins was $120.14 billion. It went up to as high as $137.06 billion on Dec. 9 before plummeting to a low of $92.67 billion on Dec. 23. This marks a 32.38% decrease in market capitalization within the month.
Meme tokens’ overall market capitalization. Source: CoinMarketCap
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Author: Ezra Reguerra
