(1) , the memecoin launchpad that took the crypto industry by storm last year, has lost its dominance amid rising competition and criticism from its users. The platform’s revenue came in at under $300,000 on Monday, according to DefiLlama data. Its revenue has fallen below that amount on only two other days in the past 12 months, both of them in September 2024. The shift raises questions about whether can regain its footing amid a memecoin slump and an increasingly crowded market. launched in 2024 and quickly became one of the most talked-about projects in crypto. As of Tuesday, it has earned more than $730 million in cumulative revenue. However, it has faced harsh criticism for fuelling rampant speculation in which many retail investors are left holding the bag.

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