Meme Coins Dominate Trading on Decentralized Exchanges

Memes Predominate in Decentralised Exchange Trade

While major cryptocurrencies like BTC, ETH, and BNB have lost over 5% in the past week, the meme coin craze continues to dominate social media and decentralized exchanges. Meme coins like PEPE, TURBO, and WOJAK have seen high trading volumes, with LADYS, a token inspired by Milady NFTs, showing the second-highest volume of all trading pairs at over $100M. However, less sophisticated players are generally losing money on these assets, with rug pulls and scams becoming more frequent. This has led to concerns about the health of the crypto market and its reputation in the eyes of regulators.