The main memecoins show red numbers, but the market cap of the sector remains above $50 billion
During the morning of this Tuesday, most of the main memecoins show red numbers in their performance. This price drop is related to the lack of significant movements in the price of BTC, the main driver of the entire crypto market.
Despite this noticeable decline among the main tokens, data from CoinMarketCap shows that this is a minor setback. In that sense, the market capitalization of the sector as a whole remains above $50.99 billion dollars. This makes it clear that the worst part of investor pessimism has already passed.
The important MarketVector index that tracks the 6 main meme coins by market capitalization also reflects an improvement. Over the last month, this index highlights a +10.22%, which makes it clear that the sector is in a much better position compared to the data from early April.
