The market capitalization of memecoins has dropped below $40 billion, indicating a significant decline. However, trade volume continues to form higher highs and lows, suggesting ongoing market activity.
Despite the bearish trends, Dogecoin and Shiba Inu remain largely dominant in the memecoin space. These well-known tokens continue to hold substantial market share.
Other memecoins like PEPE, FLOKI, and WIF are also adapting to the growing bearish heat. These tokens are managing to maintain relevance despite market challenges.
The upcoming crypto winter could further impact these tokens, and investors should be prepared for possible fluctuations and changes in market dynamics.
