What’s Going on With Memecoins in Today’s Crypto Market?
In recent weeks, memecoins have taken a significant hit in the crypto market, reaching their lowest percentage share in over a year and a half. What could be the reason behind this decline? Many analysts point to the prevailing market cycle, often dubbed the “Ethereum season.” Recent figures reveal that memecoins now comprise only 0.039% of the altcoin market, a level not seen since February 2024.
Why are Memecoins Losing Their Share?
This downturn can largely be attributed to Ethereum’s increasing market dominance, which has been siphoning off a considerable amount of liquidity. As Ethereum takes center stage, a lot of memecoins and smaller altcoins are left scrambling for a smaller slice of the investment pie. This shift begs the…
