Price is driven by attention, and early holders sell into new demand. When attention drops, there are few buyers left.
How to check it yourself
- Compare the date of the price peak with the date of peak social attention.
- Open the holders list and see whether early wallets have been selling.
- Check whether trading volume dropped after the peak. Fewer trades means fewer buyers.
Sources
- schwabassetmanagement.comhttps://www.schwabassetmanagement.com/story/what-are-meme-coins-uses-and-risks-to-know
- coingecko.comhttps://www.coingecko.com/learn/meme-coins-good-bad-ugly
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