Memecoin Market Experiences Significant Decline in December

According to Odaily, the overall market capitalization of memecoins experienced a notable decline of approximately 30% in December, indicating a slowdown in the growth and demand for meme-based tokens. Data from CoinMarketCap reveals that on December 1, the total market capitalization of memecoins was $120.14 billion. This figure rose to $137.06 billion on December 9, before plummeting to a low of $92.67 billion on December 23. This represents a 32.38% decrease in market value for the month. Currently, the market capitalization stands at around $98.78 billion, reflecting a decline of about 14.61% from the beginning of the month.