Analyst: Memecoin's share of altcoin market cap falls to 3.7%, hitting new low since February 2024

CoinFeed July 5 news, CryptoQuant analyst Darkfost said on X platform that the market cap share of Memecoins relative to altcoins has fallen to its lowest level since February 2024. During the Memecoin mania in November 2024, the share once exceeded 10%; it has now dropped to 3.7%. This indicates that Memecoin holders are becoming increasingly scarce.