Memecoins are rapidly losing market share, leading to a 2.3% decrease. The trading volume has also dropped by 27.23% to 8.43 billion USD, indicating bearish sentiment and increasing sell pressure as indicated by the declining Altcoin Season Index.
The overall cryptocurrency market has declined by 1.14%, with total market capital falling to 66.10 billion USD. This trend highlights that investors are cautious, causing significant sell-offs in the market.
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