On Monday, memecoin trading volume soared to 5.6 billion USD, a 106% increase from the previous day. However, the overall market capitalization fell by 6%, demonstrating that current activity may not indicate new capital entering the market.
Vincent Liu, Chief Investment Officer at Kronos Research, noted that the surge in memecoin trading points to speculative behavior rather than sustainable growth, indicating a probable cooling trend in the market moving forward.
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