It remains the biggest memecoin by market capitalization.This surge reflects a strong recovery from the lows seen earlier in 2024, driven by increased on-chain activity, surging transaction volumes, and growing investor interest.
This remarkable growth has been supported by strong technical indicators that underline the strong market sentiment. On the downside, immediate support lies at $0.40, with stronger support around $0.35 if a correction occurs. The market capitalization has followed a similar trend, climbing as the price trended upward. As of this writing, the market capitalization has seen a slight retraction to around $61.3 billion.on-chain metrics present an equally bullish picture. Transaction volume spiked significantly in November, with daily volumes peaking at over $10 billion mid-month before stabilizing around $2.44 billion in early December.