SOL demand cools as its total value locked drops by $10 billion and memecoin trading slumps. Traders’ lack of appetite for long leverage could further complicate the situation.
Bitcoin briefly topped $94,000 following Strategy’s largest investment since July, but investor risk appetite remained muted even after the widely expected US interest rate cut.
Crypto investor demand for memecoins remains at lows not seen since 2024, despite a growing speculative appetite that has boosted TradFi leveraged ETFs to a record $239 billion.
About 30% of the initial PEPE supply was bundled under the same entity, which sold $2 million worth of tokens the day after launch, according to Bubblemaps.