The memecoin market is dead 🦝 There’s a raccoon everyone’s talking about—named Jimothy. Due to a rare short-spine syndrome, it has no neck, is extremely round, and has an unusual appearance. Everyone—from the White House to Minecraft to Burger King—is talking about it. It went viral. $Jimothy peaked at $50M, and even that was forced by sheer hype. Now it’s at $17M. In the past, viral animal memes like $PNUT and $MOODENG did incredibly well. Now, a bizarre raccoon that the entire world is talking about can’t even break $100M. $PUNCH similarly peaked at just $50M. The reason is simple: there’s no liquidity and no users. No new money or users are coming in from outside, and the existing community can only take it so far.
NikkiSixx7Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.