Memecoins Decline as Investors Shift to Utility-Focused Cryptos
Memecoins are losing momentum as smart money shifts towards utility tokens, with notable outflows from memecoin holdings and increased interest in utility-driven projects like Solana and Ethereum. The recent surge in memecoin market cap is fading, and projects attempting to evolve beyond meme status face challenges in attracting serious VC backing, indicating a potential decline in memecoin popularity.