Benzinga – The recent performance of meme coins has sparked a debate among cryptocurrency experts. The drop in their values has led to questions about their long-term sustainability and the necessity for innovative approaches to maintain their appeal.
Market Performance Overview
Meme coins, which previously enjoyed considerable popularity, have experienced notable declines. Dogecoin, for example, is currently valued at $0.1375, showing a 6.7% decrease over 24 hours and a 13.5% drop over the past week.
Shiba Inu has similarly declined to $0.0000217, with a 7.3% decrease in 24 hours and a 9.5% reduction over the week.
Economist and crypto trader Alex Krüger believes traditional launch methods for meme coins are now less effective. He states, “the odds of a new memecoin succeeding by following the same old approach are very close to zero at this point.” Krüger emphasizes the need for new mechanisms, citing Notcoin,…
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