The GMCI MEME Memecoirs index fell 90% with respect to the peak marks of December, which indicates a fall in interest in such assets, the analysts of the publication The Block said.
At the end of last year, the Memcoirs index showed an increase of 550%, but in March its value fell to 80%. The largest assets of the index, Doge, Shib, Pepe and Trump, were faced with sales pressure from speculators who began to massively record losses, experts noted.
The situation in the memcoid market is aggravated against the backdrop of macroeconomic instability, including an increase in tension in world trade due to military conflicts and the US trade war. In such conditions, investors go from speculative virtual coins into safer financial products, Analysts of The Block believe.
This is especially noticeable in the example of the “Factory of Mem Token” PUmp.Fun. The daily revenue of the platform decreased to $ 1 million, although until recently the site received multimillion profit.
In February, PUMP.Fun was faced with a sharp reduction in the number of tokens, which were able to reach the listing stage at the Raydium decentralized exchange.
Earlier, the analysts of the Messari platform said that after the negative excitement around the political memcoirs of Trump and Libra, the volumes of trading memes on cryptocurrency exchanges decreased to a minimum.
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Source: Cryptocurrency
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