KEYTAKEAWAYS
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Hakimi meme token plunges over 40%, Polymarket traders bet on further downside, and Uniswap prepares for a major governance turning point.
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Meme token volatility spikes, Bitcoin bearish expectations rise, and Uniswap’s fee switch could reshape token economics across DeFi.
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From sharp meme coin crashes to rising Bitcoin downside odds and protocol-level governance shifts, crypto markets face a decisive sentiment shift.
CONTENT
“HAKIMI” MEME TOKEN FALLS 40% FROM RECENT LOCAL HIGH
On November 17, GMGN data showed that the BSC meme token “Hakimi” has dropped significantly after hitting a local high of $0.044 the previous day. It is now trading at $0.026, with a 24-hour decline of 22%, and a full retrace of 41% from its peak. The token previously surged on the viral “Hakimi green-bean meme” trend starting on the 14th, but its market cap has now fallen back to the same level.
Such extreme volatility highlights the high-risk, speculative nature of meme-coin trading. Prices can double within days but can just as easily be cut in half or erase all gains. Participation is closer to timing-based speculation than investment. Without real utility, meme tokens rarely sustain value over time and are largely driven by emotion and liquidity cycles.
POLYMARKET SHOWS 46% ODDS OF BITCOIN FALLING BELOW $90K IN NOVEMBER
On November 17, Polymarket reflected a 46% probability that Bitcoin will fall below $90,000 in November. The probability of dipping below $85,000 also climbed to 18%, while the chance of BTC breaking $115,000 this month dropped to just 7%. Importantly, these probabilities are not derived from traditional financial models.
They represent crowd-priced expectations, with users placing real money at stake. Over $28 million has been wagered, giving the market decent liquidity and better signal quality — but these odds still should not be interpreted as objective market truth. Prediction markets function more as sentiment barometers than deterministic price oracles.
UNISWAP FEE SWITCH PROPOSAL ENTERS SNAPSHOT VOTING TOMORROW
On November 17, the “Uniswap Fee Switch Activation Proposal” was announced to enter its 5-day Snapshot voting phase tomorrow, before moving to a 10-day on-chain vote and execution period. This proposal holds major significance because it introduces real value capture for UNI holders. Currently, UNI only provides governance rights; all protocol fees are allocated entirely to LPs.
Enabling the fee switch — directing part of the trading fees to burn UNI — effectively creates a deflationary mechanism, tying protocol performance directly to token value, similar to shareholders benefiting from corporate profits. This directly addresses a long-standing issue in DeFi blue-chips: the lack of token value accrual despite high protocol activity.
