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The crypto meme coin frenzy could be back following all-green memecoin candlesticks on the charts and high trading volume in the past 7 days.
Meme coin hype could be crawling back in the crypto market as speculative trading gains renewed interest. In the past 7 days, memecoins flashed all-green candles on the charts with notable price surges, signalling a steady capital inflow.
According to Whale Insider, Pumpfun and PumpSwap platforms hit a combined new all-time high with $551.29 million in 24 hour trading volume.
So, what is driving the hype?
PumpFun and PumpSwap have made it easy for crypto enthusiasts to launch and trade their meme fantasies or ideas backed by an established Solana ecosystem and community. The availability of this tool at ease and the wide social media buzz around memes appeals to degen traders.
Additionally, the speed of on-chain transactions across the Solana ecosystem and affordable fees allow the launch of many memecoins on the platform in a single day, pushing the trading volume through the roof.
