In December, the memecoin market saw significant volatility, reaching a high of $137 billion before declining to $92 billion, resulting in a loss of over $40 billion—a 30% decrease in market capitalization over the month. Data from CoinMarketCap revealed that the market cap dropped from $120.14 billion on December 1 to a low of $92.67 billion by December 23. Notably, Pepe, the third-largest memecoin, experienced similar fluctuations, reaching $0.000026 on December 9, then falling to $0.000017 by December 20. The increased interest was attributed to listings on exchanges like Binance.US and Coinbase, which helped boost meme token valuations. Despite the setbacks, savvy traders invested in Pepe and saw massive returns. For instance, a trader who spent $3,000 purchased Pepe, which increased over 15,000 times in value in a month. Another dormant investor returned after 600 days to transfer about $52 million in Pepe tokens.

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