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Magic Eden experiences $4 billion drop in token volume as NFT interest declines

Magic Eden’s token volume decline: Magic Eden’s token volume fell from 5,500,000,000 USD to 1,580,000,000 USD in just 24 hours, a drop of 4,000,000,000 USD. This reflects a broader drop as the NFT market activity also significantly decreased.

Bearish trend may affect ME token price: Analysts predict that the ME token price might decline further, potentially reaching 4.93 USD. Current trading patterns reveal a bearish trend, suggesting that if the market dynamics don’t change, the price will likely continue to fall.

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