The main Memefund Market Cap on Daos.fun has plummeted, with ai16zMarket Cap shrinking by 80% in the past seven days.

Odaily Planet Daily News According to Daos.fun, the Market Cap of the main Memefund has significantly decreased in the past week, with leading funds such as ai16z and Norm Capital experiencing a decrease of over 80% in Market Cap. Analysts believe that the initial hype surrounding these funds may be rapidly fading. According to the latest data from the newly created platform, ai16z Market Cap fell from about 130 million US dollars to about 23.8 million US dollars, a fall of nearly 82% in just one week. In addition, the net asset value (NAV) managed by ai16z is only 283,150 US dollars, indicating a significant difference between Market Cap and its Holdings. The fund's main Holdings include SOL and Degensai. Similarly, Norm Capital's market capitalization also big dumped from about $170,000 to only $25,000, with asset net worth of $2,481. The fund is primarily composed of two meme coins (Retardio and Retire). As Memefund approaches its initial value of 33 SOL (about $5,346), holders may soon face restrictions on selling tokens. According to Memefund's page, if the value of NORM falls below its initial level, traders will be unable to sell their tokens at the current curve, and this condition applies to all funds on the platform. (The Block)