Analyst: Since Bitcoin peaked, Binance Meme Coin has accumulated selling pressure exceeding 1.4 billion USD

Analyst Darkfost stated that since Bitcoin reached its peak last October, its maximum drawdown has reached 54%, and the current price has dropped about 35% from the peak.

During the same period, the cumulative selling pressure in the Meme coin sector on the Binance platform has exceeded 1.4 billion USD, making it one of the most severely impacted sectors in this bear market. Darkfost pointed out that Meme coins lack fundamental support, with prices primarily driven by market sentiment and cultural trends. Currently, the market capitalization of Meme coins accounts for less than 3% of the total market capitalization of altcoins, reflecting a continuous loss of liquidity in this sector. He believes that Meme coins often face greater downward pressure during market adjustments, and investors should be wary of the associated risks.