9GAG

Memecoin

MEME

meme (Ordinals)

Memecoin (<a href="https://crypto.news/price/memecoin/">MEME</a>) has been constantly declining over the past 24 hours as the heat around its launch has faded.&nbsp; 
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 launch, but soon declined to $178 million. 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="1132" height="603" src="https://crypto.news/app/uploads/2023/11/MEME-price-Nov-6.png" alt="Memecoin declined by 13% as launch heat fades - 23" class="wp-image-14212398">
 <figcaption class="wp-element-caption">
 MEME price on Nov. 6 | Source: Trading View
 </figcaption>
</figure> 
Data shows that Memecoin’s 24-hour trading volume has also plunged by 5% over the past day, closing to the $210 million mark. 
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On-chain <a href="https://etherscan.io/token/0xb131f4a55907b10d1f0a50d8ab8fa09ec342cd74" target="_blank" rel="noopener">data</a> shows that the number of MEME holders has already reached 5,842 unique wallets, totaling 50,433 transactions.&nbsp; 
Moreover, data provided by the market intelligence platform Santiment shows that the social volume for the term “MEME” has declined by 99% since Nov. 4. Per Santiment, most of the discussions came from Telegram channels and groups, while Reddit had the least traffic. 
<figure class="wp-block-image size-full">
 <img decoding="async" loading="lazy" width="1277" height="486" src="https://crypto.news/app/uploads/2023/11/Screenshot-2023-11-06-131946.png" alt="Memecoin declined by 13% as launch heat fades - 24" class="wp-image-14212400">
 <figcaption class="wp-element-caption">
 Social volume for “meme” | Source: <a href="https://app.santiment.net/labs/trends/explore/meme" target="_blank" rel="noopener">Santiment</a>
 </figcaption>
</figure> 
Interestingly, top exchanges such as Binance, OKX, Bybit, Bitrue, and DigiFinex have already <a href="https://crypto.news/binance-adds-memecoin-to-launchpool-partners-with-9gags-memeland/">listed Memecoin</a>. 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; 
 Read more: <a href="https://crypto.news/top-assets-to-watch-this-week-egld-sol-arb/"> Top assets to watch this week: EGLD, SOL, ARB </a>

Memecoin declined by 13% as launch heat fades

crypto.news

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