Memecoin Mania: Analyzing High Trading Volumes

Recent data reveals a surge in trading activity among memecoins, leading to questions about the drivers behind this phenomenon. A notable metric highlighting this trend is trading volume-to-market cap ratio, which offers insights into how actively these tokens are being traded relative to their market capitalization. The highest ratios belong to WLFI, followed by FARTCOIN, WIF, PENGU, PUMP, and TRUMP. 0.25x for WLFI represents a significant proportion of its market value shifting hands in the past 24 hours. This suggests strong community engagement or short-term speculation.