No memes in the crypto Top 10
There are no meme coins in the crypto Top 10 for the first time in almost a year. Dogecoin sits just outside at #11.
This feels like an indicator of a maturing market, but my gut tells me it’s simply the result of the bear market of the past 72+ hours. If people are having trouble hanging on to the leading crypto they do believe in, they are likely selling the silly coins they bought as a “maybe moonshot.”
My conversations with friends and family are often derailed by (legitimate) questions and concerns about some coin with some weird name that went from nothing to everything in a flash. If something sounds too good to be true, most people know that it is.
A snapshot of CoinMarketCap at 11:08 PM Eastern, December 6, 2021.