Meme coins tumbled with wider crypto assets in the past 30 days sparking outflows in the market. Meme coins which are known for its over-the-market price rallies are trading their shadows as the correction bites harder. However, bulls opine a turnaround citing macro conditions and recapitalization of crypto holdings by users.
At press time, the total meme coin market cap stands at $44.4 billion, falling 5.8% in the last 24 hours and alongside a decline in volumes. To put into perspective, the market cap was above $70 billion this year showing a significant chunk wiped out since the last meme coin frenzy. Market analysts give reasons why an uptick could spark life in the asset class.
Meme Coins To Rebound With Crypto Assets
The majority of market commentators opine a bullish momentum in meme tokens in line with a similar pattern in Bitcoin. This has been the status quo as positive sentiments in the market leader can spur growth in other areas. A typical example is inflows to spot Bitc
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