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Memecoins Lost $40 Billion in December: Is the Hype Over?💎

Memecoins skyrocketed to a total market capitalization of $137 billion in early December, only to crash to $92 billion by the end of the month, losing $40 billion. The extreme volatility left many traders in the dust, while a few managed to profit from the chaos.✅

What happened?

On December 1, memecoins had a market cap of $120 billion, climbing to $137 billion by December 9.✈️

By December 23, it had plummeted to $92.6 billion, marking a 32% drop for the month.

Pepe’s wild ride💎

Pepe, one of the largest memecoins, hit an all-time high after being listed on Binance.US.

Its price rose to $0.000026 on December 9, only to fall to $0.000017 by December 20.

Big winners✅

A trader who invested $27 in Pepe and held for 600 days cashed out in December, turning it into $52 million—a mind-blowing 1.9 million percent profit.💎

Another investor turned $3,000 into $46 million in just a month earlier this year.

Memecoins are a wild ride: enormous gains for the lucky, devastating losses for the rest. Are they still worth the gamble? $MEME