In December, the memecoin market experienced billions of dollars in losses.

December ended with a sharp decline for the memecoin market. Initially rising to a market value of $137 billion, it fell to $92 billion by the end of the month, surprising investors. This significant drop indicates a decrease in interest in meme-based tokens.

FLUCTUATIONS IN PEPE AND OTHER MEMECOINS HAVE DISTURBED INVESTORS

The memecoin market, one of the notable segments of the cryptocurrency world, experienced a serious loss of value in December 2024. As a result of the fluctuations during the month, the total market value decreased from $137 billion to $92 billion.

According to reports from leading data provider CoinMarketCap, the memecoin market had a value of $120.14 billion on the first day of the month. This figure peaked at $137.06 billion on December 9. However, the momentum in the market reversed, and by December 23, the total value had dropped to $92.67 billion. This decline indicates a loss of 32.38%.

According to the latest reported data, the total value of the memecoin market is hovering around $98.72 billion. This figure shows an 18% decline compared to the beginning of the month and indicates a decrease in investor interest in meme-based tokens.

Pepe, one of the leading memecoins in the market, exhibited a remarkable performance during this period. According to market data, Pepe's value rose to $0.000026 on December 9 but fell to $0.000017 on December 20.

On the other hand, major exchanges like Binance.US and Coinbase added Pepe and some other memecoins to their trading lists on December 4. Pepe set a record on December 7, increasing its market value from $591 million at the beginning of the year to over $11 billion, achieving an 18-fold growth throughout the year.

There were also remarkable success stories among Pepe investors. A trader who invested $3,000 in April achieved a return of $46 million within a month. Another striking example is an investor who turned a $27 investment into a value of $52 million after holding it for 600 days. According to Lookonchain's analysis, this investor managed to achieve a record return of 1,900,000 times.