๐ฅHot off the press: Trading meme coins like DOGE, SHIB, PEPE, and even HarryPotterObamaSonic10Inu (yes, that's a thing) is easier than ever, thanks to record liquidity levels! ๐ฆ๐ฐ
But hold your horses! ๐ Despite this, bid-ask spreads remain high, indicating these tokens are still seen as risky. ๐ฒ๐
The total value of buy and sell orders within a 1% range of the current market price for these tokens recently hit $128 million! ๐ That's a lot of meme coin action!
However, despite increased liquidity usually leading to tighter spreads and better trading pricing, meme coins aren't playing ball. ๐๐คทโโ๏ธ
Market makers are dipping their toes into these tokens, but they're still wary of their high volatility. ๐๐
Some small-cap meme tokens like Dogwifhat (WIF), Memecoin (MEME), or Book of Meme (BOME) have seen liquidity growth in native units from 200% to 4000%! ๐๐
So, what's your take on this? Are you riding the meme coin wave or staying on the shore? ๐โโ๏ธ๐๏ธ Let's chat in the comments! #DeFi #Web3