Bad news for memecoin holders on CEXs.
The market cap share of memecoins relative to the entire altcoin market has dropped to its lowest level since February 2024.
Back in November 2024, when the memecoin season was in full swing, this sector accounted for more than 10% of the total altcoin market cap.
Now, that figure has fallen to around 3.7%.
This shows that speculative capital has been flowing out of memecoins significantly, while the number of holders also appears to be shrinking.
In fact, over the past 3 years, the memecoin holder base has never looked this thin.
The market cap share of memecoins relative to the entire altcoin market has dropped to its lowest level since February 2024.
Back in November 2024, when the memecoin season was in full swing, this sector accounted for more than 10% of the total altcoin market cap.
Now, that figure has fallen to around 3.7%.
This shows that speculative capital has been flowing out of memecoins significantly, while the number of holders also appears to be shrinking.
In fact, over the past 3 years, the memecoin holder base has never looked this thin.