Why did the NFT go to holidays? Because it felt overshadowed by a bunch of meme coins! 😂
📉 In Q2, NFT sales took a nosedive, dropping 44% from $4.14 billion in Q1 to just $2.32 billion, according to CryptoSlam. Blame it on the crypto market downturn and a swarm of new memecoins with celebrity, political, and animal themes stealing the spotlight.
Apollo Crypto's investment chief, Henrik Andersson, noted that while Bitcoin dipped by 15% and altcoins did even worse, memecoins were busy capturing everyone's "mind share." 💗
Despite the #NFT slowdown, memecoins are still flying high, with trading volumes hitting $3.4 billion in the last 24 hours alone! Thanks to the rise of PolitiFi #Memecoins🤑🤑 tied to the U.S. presidential election and new celebrity #tokens on Ethereum and Solana, it looks like the meme frenzy is here to stay. 🚀💰
