The Erstwhile-Popular Memecoin, $PWEASE, Finds Its Market Cap and Holder Base Sinking

The erstwhile-popular memecoin, $PWEASE, finds both its market cap and holder base sinking, with what appears to be a very rapid shift in sentiment across the community.

The memecoin market has seen better days, especially for those holding onto PWEASE. The erstwhile-popular memecoin has seen both its market cap and holder base sink, with what appears to be a very rapid shift in sentiment across the community.

For instance, over just the last 11 days, the holder base seems to have shrunk by more than 9 percent. Of course, not a lot seems to be going on with the PWEASE cap itself: As the cap drops in what seems to be a pretty effortless slide, the trading and liquidity around it seem to drop pretty parallel, leaving us to wonder if PWEASE is done or if it’s got some life left.

A Sharp Drop in Holder Count and Market Cap

A little more than a week ago, PWEASE had a strong base of 25,374 holders. However, that count has since taken a nosedive to 23,082, with 2,292 holders deciding to leave the ship. This represents a remarkable 9.03% drop in the count of holders, which could indicate a turncoat signal for the memecoin—either a loss of confidence or a pivot toward more stable investments as the market becomes less favorable.

Once the memecoin market turned into a talk show, PWEASE reached a peak market capitalization of $54 million. But that peak has been short-lived, and the setup now shows a total of $6 million, which is a decline of 88.89% from the ATH. That setup alone raises some serious questions about the setup in terms of how long it can actually last.

The decrease in market cap is a clear sign of the shift in market sentiment around PWEASE. What was once a thriving and optimistic community is now contending with a much more pessimistic outlook. In the fast-moving world of memecoins, such rapid fluctuations are not unknown, but the extent of the drop is hard to overlook.

Market Liquidity and Trading Volume Are Draining

Adding to the complexity, the cash available for trades using PWEASE is also very restricted. This rarity is represented by the current liquidity of $358,000, which amounts to only 5.97% of the coin’s market capitalization. By this measure, which makes the PWEASE seem a little underwhelming, its liquidity is barely touching the surface of 6% of the cash that could be available in the total market for PWEASE.

11 days ago, $PWEASE holders count was 25,374

ATM, holders count is 23,082

2,292 holders have exited the memecoin

The holders count dropped by -9.03%

PWEASE got to an ATH of $54m Mcap and is now at $6m mcap indicating a -88.89% drop in market cap.

Market sentiment have been shifting quickly and quickly erodes any optimism.

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PWEASE price is currently at $0.00358

The lack of liquidity is a significant problem for PWEASE. Without enough liquidity, traders will struggle to buy or sell the token without impacting its price, which might lead to less-than-ideal trades.

Moreover, the lack of liquidity may deter new investors from entering the market due to concerns about the ease of executing trades and the risk of slippage. Thus, the ongoing lack of liquidity compounds the already pressing problems that PWEASE faces and makes it even more difficult for the coin to recover and regain the trust of investors.

The Shift in Sentiment: From Optimism to Pessimism

PWEASE was once seen as a promising memecoin with great potential. However, the market sentiment toward the coin has taken a sharp turn. The price had been moving in a positive direction, achieving a nearly 45 percent surge from around 272.5