The Robinhood Chain frenzy is cooling down. DEX daily trading volume has dropped nearly 49% from its peak, Meme trading volume is down almost 57%, and daily on-chain revenue has plunged from $5.44M to $1.42M. Popular tokens are also collectively pulling back, but TVL has only dipped 0.7% from its high—money hasn’t fully withdrawn yet, but trading activity is fading. What’s more troubling is that stock Memes are now facing compliance controversies, homogenized competition, and high Gas fees, with over 60% of traders currently at a loss.