The overall market capitalization of Memecoins dropped by about 30% in December, and is currently down 14.61% from the beginning of the month.

PANews reported on December 29 that in December, the overall market capitalization of Memecoins dropped by about 30%, indicating a slowdown in the momentum and demand for meme-based tokens. According to CoinMarketCap data, on December 1, the total market capitalization of memecoins was $120.14 billion. On December 9, this figure reached a high of $137.06 billion, before falling to a low of $92.67 billion on December 23. This means that the market capitalization decreased by 32.38% during the month. The current market capitalization is approximately $98.78 billion, which is a decline of about 14.61% from the beginning of the month.