๐ Meme Coin Mania: Liquidity Hits Record Highs!
Meme coin liquidity is through the roof, hitting a whopping $128 million, but don't get too comfy โ the bid-ask spreads are still as wide as a meme grin. ๐
Thanks to Kaiko, we know trading in your favorite meme coins (DOGE, SHIB, PEPE, and even HarryPotterObamaSonic10Inu) is easier than ever with liquidity soaring to new heights. ๐ข๐ธ
You'd think more liquidity would tighten those bid-ask spreads, right? Not in the meme coin universe! Despite the deep pockets, the spreads remain wide, often above 2 basis points on centralized exchanges. ๐ฆ๐
Kaiko says, โMore market makers are diving in, but these tokens are still risky business due to their high volatility.โ So, while liquidity is up, the risk remains sky-high. ๐โ ๏ธ
Even the lesser-known tokens like Dogwifhat (WIF) and Book of Meme (BOME) are seeing liquidity boosts from 200% to a staggering 4000%! So, whether youโre a meme coin veteran or just along for the LOLs, keep your wits about you! ๐๐ฐ
#BinanceTournament #mememcoinseason2024 #MemeWatch2024 #Megadrop
