Memecoin trading volume briefly spiked to $5.6 billion on Monday, with analysts suggesting speculative momentum for memecoins may have now cooled.Memecoin tradersMemecoin trading volume briefly spiked to $5.6 billion on Monday, with analysts suggesting speculative momentum for memecoins may have now cooled.Memecoin traders
Memecoin trading spikes briefly as traders cash in, say analysts
Memecoin trading volume briefly spiked to $5.6 billion on Monday, with analysts suggesting speculative momentum for memecoins may have now cooled.
Memecoin traders appeared to be locking in profits on Monday after a strong start to the year, according to analysts, with memecoin trading volumes spiking while memecoin marketcap fell.
Memecoin trading volume spiked to $5.62 billion on Monday, rising 106% from a day earlier, while memecoin market capitalization fell 6%, according to crypto data platform CoinMarketCap.
The volume has since dropped back down to $3.6 billion, down more than 24% for the day.
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