The memecoin market, which was once booming, is now seeing a significant downturn, as it continues to have consecutive monthly declines. After a truly remarkable growth period during the winter memecoin season, the memecoin market cap is now coming close to November 2024 levels, effectively erasing all the gains made during those winter months. This recent drop has some investors quite worried, of course, who were hoping the memecoin sector would continue to do well. A Shrinking Market Currently, the total market capitalization of the whole cryptocurrency space is just around $3.09 trillion, with an ever-increasing number of assets and
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