Memecoins eye major revamps in an effort to return to their former glory By Cointelegraph

Memecoins eye major revamps in an effort to return to their former glory

Memecoins briefly took the cryptocurrency market by storm in 2021 after steady attention and shilling from big-name influencers like Elon Musk and Mark Cuban helped propel coins like (DOGE) to 100x gains.

As one should expect, in the crypto market, rapidly rising prices have a tendency to reverse course just as fast and many of the formerly high-flying meme tokens now find themselves struggling for survival as the market matures and investors look for real-world use cases.

DOGE/USDT 1-day chart. Source: TradingView
SHIB/USDT 1-day chart. Source: CoinGecko
SFM/USDT 1-day chart. Source: CoinGecko