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I think the memecoin madness is nonsensical and in general going to 0, but... Let's not forgot this happened just 9 months ago on Ethereum, even INCLUDING people sending millions to random people's addresses. That was not the top for the overall market, not even close...
The memecoin meta is running out of steam There's only so much pvp bullshit we can do before we need new participants in this space to dump on The pendulum will swing the other way - I give it 10 more days of memecoins being cool Post-NFT NYC, NFTs will be cool again Late… https://t.co/UH9l97q2Ms
Meme coins are cooking, can we expect to see NFT's pick up, or is the narrative meme coins this cycle and that's it?
Trading volume for top meme coins surged to approximately $80 billion in the past week, the highest since October 2021. The total market value of meme coins surpassed $60 billion despite the highest interest rate levels in two decades, indicating a frenzied market. The meme coin frenzy in the digital-asset market continues unabated, with trading volumes reminiscent of the last crypto bubble burst over two years ago, signaling a potential bubble. Memecoins have defied market expectations, exceeding $50 billion in market cap and $80 billion in weekly trading volume, leading to concerns about the sustainability of the current market environment.