The market interest has shifted from meme coins to DeFi tokens
Leading meme coins have lost their growth momentum, while DeFi tokens are showing stronger growth. This is indicated by the dynamics of the respective indices, writes The Block.
Over the past week, the GMMEME index, which characterizes the dynamics of the top 30 meme coins, has decreased by 0.95%.
In the last two weeks, the index has fluctuated in the range of 470–535 points with an unsuccessful attempt to break out of the range upward on November 23, when it reached an ATH of 571.87.
Min Chong from Presto Research pointed to the "overheating" of the sector.
"Listings on exchanges led to a price spike for tokens in mid-November, followed by growing investor fatigue from controversies, including Pump.fun," explained the specialist.
