Memecoin Market Cap Drops to November 2024 Levels

In Brief:

Memecoin market value has retraced nearly all gains from the winter rally.

Extended downturn signals fading momentum after months of decline.

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According to data from IntoTheBlock, the total market capitalization of memecoins has fallen back to levels seen in November 2024. The sharp decline follows months of market correction, effectively erasing gains from the winter memecoin rally.

This downturn reflects waning hype and a shift in investor sentiment as traders move away from speculative assets. With memecoins losing momentum, analysts are watching for potential catalysts that could reignite interest in the sector.

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