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The Meme Coin Collapse
CryptoQuant data shows meme coin dominance within the altcoin market fell from 0.042 in mid-February to 0.034 in March. .
Solana (CRYPTO: SOL), which served as the primary hub for memecoin speculation, has seen on-chain engagement collapse.
The number of daily decentralized exchange traders on Solana has hit record lows, according to analyst Shah.
“Participation is at all time lows, just a few thousand people are still active, so good coins that once had 100M–1B potential are stuck trading between 500k-20M,” Shah wrote. Moreover X user @capexbt described the chain as a “ghost town.”
The Failed Breakout
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Read more on Benzinga
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