Data from across the industry shows a new market trend: the waning meme coin craze. Although major meme coins have maintained a consistent level of performance, several downtrends have emerged over the past month.
Some assets continue to achieve breakout success, but the meme coin space is quietly declining across the board.
Is a Meme Coin winter coming?
About a month ago, space same corner the situation was quite different: these assets were in an intense bull market, outperforming the best altcoins. DWF Labs itself launched a $20 million fund to boost coin creators.
However, new data reveals growing fissures, as commercial space volumes have fallen from around $30 billion to less than $14 billion.
Data from CoinMarketCap also shows that the main coins have essentially maintained a stable performance this month. Still, meme coins are famous for their wild leaps and bounds, and they tend to steal the spotlight from one another.
For example, earlier this month, FARTCOIN achieved a 200% price increasewhile older assets like DOGE fell sharply around this time. In the same spirit, POPCAT was a top artist in November, but it quickly began to lag the market. In other words, these big successes can distract from other losses. However, the overall market is slightly underperforming.
It is difficult to create a comprehensive narrative that accurately explains these trends. Maybe High-profile rug pulling scams like Hawk Tuah contributed to diminishing market interest.
More data clearly reveals that most meme coin traders lose moneyat least on some platforms. For some reason, their market dominance over altcoins is decreasing significantly.
While these trends are definitely concerning, it is premature to say that a coin bear market is imminent. For example, November trade data suggests that an altcoin season was also imminentbut the the real rally did not materialize.
Perhaps these trends will also constitute a temporary mirage. Nonetheless, traders should be aware of these bearish signals.
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