Glassnode: Peak Holders of All Memes Contract has Significantly Decreased, On-chain Sentiment May Have Shifted

BlockBeats News, February 19th, Glassnode posted on social media, stating that since peaking in mid-December 2024, the overall network Meme contract holdings have significantly decreased from the peak. The contract holdings of DOGE (7-day moving average) have dropped by 58.45%, from $3.58 billion on December 9, 2024, to $1.49 billion today. Other high-market-cap Memes have also "unloaded" a significant amount of leverage, including (contract holdings in parentheses):

· PEPE: -71.93% ($1.25 billion → $0.351 billion)

· BONK: -75.10% ($0.715 billion → $0.178 billion)

· WIF: -69.83% ($0.653 billion → $0.197 billion)

· SHIB: -74.41% ($0.323 billion → $83 million)

· FLOKI: -69.18% ($41.7 million → $12.9 million)

Glassnode stated that the trend of contract holdings decline is evident, and the holdings of all Memes have been significantly corrected. This may indicate a loss of leverage, but it also suggests a shift in sentiment across the entire Meme coin sector.