The meme coin market experienced significant volatility in December, with their market capitalization surging to $137 billion before plummeting to $92 billion, resulting in a loss of over $40 billion. A Notable Decline The overall market cap for meme coins dropped by 30%, signaling a slowdown in demand for meme-based tokens. CoinMarketCap data shows that on December 1st, the total market cap was $120.14 billion, peaking at $137.06 billion on December 9th, then falling by 32.38% to $92.67 billion by December 23rd. By the end of the month, the market cap stood at $98.72 billion, an 18% decline. A key driver of the meme coin surge was the listing of PEPE on exchanges like Binance.US and Coinbase, which helped propel its price and market cap. On December 7th, following its Binance.US listing, Pepe surpassed UNI in market cap, with its value soaring to over $11 billion. Staggering ROI Throughout the year, savvy traders profited significantly, such as one who invested $3,000 in Pepe in April and saw it grow to $46 million by May. In December, another trader, after holding $27 worth of Pepe for over 600 days, transferred $52 million worth of tokens, yielding a whopping 1,900,000x return on investment, according to Lookonchain analytics.
