Social commerce app's weekly transaction volume is approaching $1.3 billion; the next Roaring Kitty may be on the horizon.

According to Ryan Watkins, co-founder of Syncracy Capital, as reported by Odaily, social trading apps will integrate market data, public trading records, discussions, and trade execution functions. In the future, we may see individual traders showcasing nine-figure trading results, users with highly followed profit and loss leaderboards, and online groups managing large sums of money. The next Roaring Kitty may emerge through a social trading app. DefiLlama data shows that as of the week ending August 24, weekly trading volume on social trading apps approached $1.3 billion. Fomo and Pump have daily active users approaching those of Polymarket, Hyperliquid, and Phantom, with each platform having approximately 60,000 to 100,000 users. Social trading apps account for about 33% of Hyperliquid developer code trading volume. Pump has paid out over $450 million in rewards to token deployers, and users typically pay a 2% to 3% fee when exchanging Meme tokens. The U.S. Securities and Exchange Commission (SEC) has warned that social media recommendations may involve pump-and-dump schemes, undisclosed promotions, scalping, and impersonation; insufficient liquidity in Meme coin may also limit large-scale copy trading. (Bitcoin.com News)