Crypto Memecoin Market in Deep Bear Sentiment
Trading terminal volume is down 80% from peak, coins can't break $1M market caps, and traders are either rotating to HYPE or cutting losses entirely. Multiple CT voices describe the worst conditions in recent memory.
What we know
An account on X cited an 80% drop in daily trading terminal volume from its recent peak. Another account on X lamented the days when bull-posting coins to 50M+ caps was the norm. Another account on X called it the 'third onchain 9/11 this year.' In contrast, another account on X went contrarian, buying $20K of $AI at $40M cap, while another account on X is rotating most of his portfolio into HYPE or out of crypto entirely. Another account on X shared a viral satirical 'day in the life of a crypto trader.'
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.