9GAG

Memecoin

MEME

meme (Ordinals)

<div class="cryptonews">
 <p class="is-style-lead">Memecoin (MEME) has been constantly declining over the past 24 hours as the heat around its <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> has faded.&nbsp;</p>
 <p>The asset, brought to the crypto world by the 9GAG team, plunged by 13.44% in the past 24 hours and is trading at $0.02 at the time of writing. MEME’s total market cap rose to a whopping $256 million on Nov. 4, a day after its <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a>, but soon <a rel="noopener noreferrer nofollow" title="declined" href="https://thebittimes.com/tag/declined.html">declined</a> to $178 million.</p>
 <figure class="wp-block-image size-full"><picture decoding="async" class="wp-image-14212398">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/11/06/2f15ec5df8336ac95473af5b9d589631.webp.webp">
   <img decoding="async" width="1132" height="603" src="https://cdn.thebittimes.com/images/2023/11/06/2f15ec5df8336ac95473af5b9d589631.webp" alt="Memecoin declined by 13% as launch heat fades - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   MEME price on Nov. 6 | Source: Trading View
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 <p>Data shows that Memecoin’s 24-hour trading volume has also plunged by 5% over the past day, closing to the $210 million mark.</p>
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 <p>On-chain data shows that the number of MEME holders has already reached 5,842 unique wallets, totaling 50,433 transactions.&nbsp;</p>
 <p>Moreover, data provided by the market intelligence platform Santiment shows that the social volume for the term “MEME” has <a rel="noopener noreferrer nofollow" title="declined" href="https://thebittimes.com/tag/declined.html">declined</a> by 99% since Nov. 4. Per Santiment, most of the discussions came from Telegram channels and groups, while Reddit had the least traffic.</p>
 <figure class="wp-block-image size-full"><picture decoding="async" class="wp-image-14212400">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/11/06/324b1e693c96c548472f0f7a11b26901.webp.webp">
   <img decoding="async" width="1277" height="486" src="https://cdn.thebittimes.com/images/2023/11/06/324b1e693c96c548472f0f7a11b26901.webp" alt="Memecoin declined by 13% as launch heat fades - 2"> 
  </picture>
  <figcaption class="wp-element-caption">
   Social volume for “meme” | Source: Santiment
  </figcaption>
 </figure>
 <p>Interestingly, top exchanges such as Binance, OKX, Bybit, Bitrue, and DigiFinex have already listed Memecoin. Binance has the majority of the asset’s trading volume with the MEME/USDT trading pair — 44.8%, which accounts for over $96 million.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/memecoin-declined-by-13-as-launch-heat-fades-tbt69168.html">https://thebittimes.com/memecoin-declined-by-13-as-launch-heat-fades-tbt69168.html</a></p>

Memecoin declined by 13% as launch heat fades

TheBitTimes

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