Analyst: The rise of meme tokens is mainly driven by Asian traders

2024-05-29 18:40:55

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ChainCatcher news, Stratos founding partner Rennick Palley stated: The popularity of meme tokens is mainly due to Asian traders re-entering the market, with most meme token prices rising significantly during Asian trading hours (midnight US time). This is a subsequent effect of the ETH ETF craze and the shift of US regulators towards a more supportive stance on cryptocurrencies.