Memecoin's Popularity on Google Plummets!

Bittime - Memecoin experienced a drastic decline with its market value dropping $20.02 billion in 89 days. Is the future still bright for memecoins? Check it out in this article!

Drastic Decrease in Memecoin Value

The market price of memecoins is decreasing rapidly, not only in search. Memecoin lost $20.02 billion in the 89 days from May 21, 2024, dropping from $59.62 billion to $39.59 billion. 

Popular meme coins like DOGE, WIF, and BOME were the main victims of this trend, with their respective market caps plummeting.

Factors Causing Memecoin's Decline

There are a number of reasons why the popularity and market value of memecoins is declining. First, because they do not have strong fundamentals and are often driven by momentary hype, memecoin prices fall.

Second, stricter regulations in the crypto industry may also contribute. It is possible that investors will become more cautious as many countries begin to tighten rules for trading and using crypto assets, such as memecoins.

Read Also: MemeFi Daily Combo August 18, 2024

The Future for Memecoin

Despite the current decline in popularity and market value of memecoins, there is still a possibility that some coins will bounce back, as the history of the crypto market has shown that there is always uncertainty in it. 

Therefore, even though the current trend seems gloomy, it is not impossible that memecoins will return to interest in the future, especially if there are new innovations or developments that can attract the attention of the crypto community around the world.

Conclusion

After losing $20.02 billion in recent months, the current popularity and market value of memecoins has fallen drastically. Increasing regulation in the crypto industry and lack of strong fundamentals are the two main causes of this decline. 

The history of the crypto market shows that recovery is still possible, even though the current situation looks bleak. In the near future, it is possible that the memecoin industry will make a comeback.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.