Investor Confidence Declines Amid Scams as Meme Coin Hype Fades
As investor confidence is shaken by failing ventures and rug grabs, meme currencies face a steep drop.
According to CoinGecko, trading volumes for meme coins fell 97% during the previous quarter.
A lot of new meme currency launches result in rug pulls, which cause significant losses for investors.
According to experts, meme currencies suffer from a lack of practical use and low consumer demand.
Some meme coins, like as Dogecoin and Shiba Inu, continue to dominate in spite of setbacks.