ChainCatcher reported that the memecoin market experienced a roller coaster-like fluctuation in December. According to Cointelegraph, the overall market value of memecoin fell by about 30% this month, indicating a slowdown in demand for meme-based tokens.

According to CoinMarketCap, the total market value of memecoins was $120.14 billion on December 1 and climbed to $137.06 billion on December 9. However, by December 23, the market value fell to a low of $92.67 billion, a 32.38% drop in market value for the entire month.

As of now, the market value of memecoin is about $98.78 billion, down about 14.61% from the beginning of the month. This fluctuation reflects that the market's interest and confidence in memecoin are being tested.