I have been following NFT for a while and have noticed that the emergence of some animal coins has disrupted the market. Will the market be more stable in June?
What the hell is an Animal coin? Lol it's the second time I am hearing about this on this forum. Are you guys talking about meme coins like Doge coin and the newer Shiba Inu coin? Stop calling them animal coins. And I don't think they have anything to do with NFTs (but memes do sell real good in NFT market. I have seen people selling meme for hundred thousands of dollars. Insane!).
It's no longer hot like it used to be. The trend/hype seems to be dying eventually. Don't hear about them much anymore.
I think it is stuff like apeswap, dogecoin, shiba and many other stuff like that so you are right about that. They have nothing to do with NFT but they do have something to do with hype. About two months or three months ago we had this huuuuge crazy thing about NFT and everything worth ten times more than it should and people were going crazy over it, then it started to actually go down more and more and NFT didn't really became that good.
Eventually these "animal" coins got a super hype and their prices reached to a point where it shouldn't have reached. Which means maaaaybe there is a possibility that "animal coins" stole the hype away from NFT projects and that is why people are asking if NFT still hot or not. That is what I understand about the situation, I am not entirely sure about it but that seems to be the case for now.