From Cointelegraph

April 5, 2025 09:31 AM:

The most successful cryptocurrency traders are still chasing quick profits in memecoins, despite signs of the broader “supercycle” winding down. Smart money traders remain open to speculative plays, even as stablecoin holdings grow, according to Nansen’s blockchain intelligence platform. Recent meme surges have provided fun plays, while memecoins operate independently from Bitcoin and Ethereum macroeconomics.

A savvy trader turned a $2,000 investment into $43 million with the Pepe cryptocurrency, despite a 70% decline from its all-time high. Although not selling at the peak, the trader realized a profit of over $10 million. The launch of the Official Trump memecoin on Jan. 18 may have signaled the end of the memecoin “supercycle.”

Pump.fun, synonymous with the memecoin supercycle, saw a decline in usage metrics following the launch of the Official Trump memecoin. Total active wallets on Pump.fun dropped from 2.85 million to 1.44 million by March 31. Market sentiment shifted amid reports of insider trading linked to tokens like $MELANIA and $LIBRA.

The TRUMP token has fallen over 87% from its peak of $75.35, reaching an 8% decline in the past week. Broader macroeconomic uncertainty and volatility from global tariff policies have dampened speculative appetite for memecoins. Market sentiment has also shifted due to reports of insider trading and high-profile token launches.

Read more at Cointelegraph: Smart money still hunting for memecoins despite end of ‘supercycle’