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Solana Memecoin Trading Volume Crashes by a Whopping 80%, but Somehow We’re Still Stuck in This Never-Ending Cycle of Hype and Disappointment, Because Who Needs Actual Fundamentals When You Have FOMO

Crypto NewsMemecoinsRegulation/Negotiation 5 Doug Martinez August 20, 2024

An illustration of a rollercoaster with steep drops and sharp turns in the background while at the front there's an empty seat on one side but filled by a person holding onto their hat for dear life, as if they're about to fall off; above them is a sign that reads "Memecoin" with multiple arrows pointing towards it. In the foreground are two people standing next to each other looking worried and unsure of what's happening around them while one holds up an empty wallet in despair.

The Solana-based Memecoin madness is finally starting to die down as volumes plummet by 80% in the last two weeks! It’s been a wild ride, but even the most ardent crypto bros can’t deny that this fad has been nothing more than a speculative bubble waiting to burst. The data speaks for itself: only 3% of traders have made over $1,000 on pump.fun while an astonishing 60% are losing money! It’s time to face reality – Memecoins are the ultimate get-rich-quick scheme with no real value or utility.

Source: cointelegraph

Debate shifts negative as Solana memecoin trading volume dips
https://cointelegraph.com/news/debate-continues-memecoins-positive-destructive-crypto
Memecoin skeptics have become slightly louder this week amid a fall in Solana-based memecoin trading volumes and recent data showing that most pump.fun traders are losing money.  In an Aug. 19 newsletter, Messari data engineer Mike Kremer became the latest to add his voice to a long-running debate, calling memecoins the “most extractive crypto phenomenon” since the ICO boom of 2017. He argued that while speculative bubbles and assets have […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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