Despite signals pointing to the end of the memecoin supercycle, traders continue to look for quick profit opportunities. Analysis shows that active traders remain open to speculative deals.
Traders and Memecoins
Traders tracked by Nansen's blockchain analytics platform are still pursuing quick profits in memecoins. The growth in stablecoin holdings indicates caution in the market, but traders remain open to speculative plays. Analyst Nicolai Sondergaard noted: 'There was the recent meme surge, and smart money is always happy to capitalize on that, but they’re also quick to rotate out of these.'
Trump Token Launch
The launch of the 'Official Trump' token on January 18 may signal the end of the memecoin supercycle. The site Pump.fun, a hallmark of the memecoin phenomenon, showed a decline in usage linked to changing investor sentiment.
Decline in Investor Activity
The total number of active wallets on Pump.fun dropped from 2.85 million during the week of January 20 to 1.44 million by March 31. This drop is attributed to a general decline in market sentiment and global economic uncertainty. The TRUMP token has fallen more than 87% from its peak.
Current trends indicate that despite signs of the supercycle ending, some traders continue to find opportunities in speculative investments, while overall activity in the memecoin market is declining.
