Weak on-chain activity and memecoin sentiment
On-chain activity is at a local low, with LB's trench index at 28 and trending to "ded". Traders are still touting memecoins and arguing conditions keep worsening despite high volume.
What we know
LB says on-chain activity was last this slow 182 days ago and calls it a decent time to accumulate. awp retweets an argument that conditions keep deteriorating despite volume at 2x-4x 2024 levels. Meanwhile Murad amplifies $SPX6900 accumulation and Shadow pushes $BUTTCOIN.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.