Correction at Raydium, the token of the decentralized exchange on Solana loses over 30 percent of its value.
Why is $RAY crashing: Memecoins
The ever-increasing criticism of #memecoins is currently dominating the crypto world.
A second trigger could be the news that Pump.fun
wants to launch a decentralized exchange.
Memecoins would then run on this platform, which would deprive Raydium of capital in this area.
But it is doubtful whether the platform is coming at the right time. The reputation of Pump.fun and the pump and dump business has suffered greatly.
Time will tell whether investors will continue to put their money into the highly speculative memecoins.
