CryptoQuant CEO Ki Younger Ju has known as meme coin markets “dead” as current on-chain information exhibits meme coin dominance in altcoin markets has dropped to multi-month lows.
This declaration has sparked debate inside the cryptocurrency group. Some counsel that the underside is close to, whereas others see mounting losses and shrinking liquidity as indicators of significant decline.
Sponsored
Meme Coin Dominance Hits Lowest Level Since Early 2024
Information from CryptoQuant exhibits that meme coin dominance in altcoin markets has declined repeatedly this yr. It peaked at round 0.109 in November 2024. Nonetheless, the metric now sits at 0.034, matching lows from February 2024. This decline alerts a transparent transfer away from speculative meme tokens.
CoinGecko information reinforces this image. Market capitalization throughout meme-coin sub-categories surged into a transparent peak in late 2024 and early 2025, earlier than getting into a sustained downturn. On a yearly foundation, main meme tokens have suffered heavy losses.
Efficiency of Meme Coin Sectors. Supply: CoinGecko
Dogecoin (DOGE) is down 66.3%, whereas Shiba Inu (SHIB) has fallen 71.3%. Losses are much more pronounced for Pepe (PEPE), which declined 81.6%. Lastly, Bonk (BONK) shed 76% of its worth over the identical interval.
Total, the meme coin market has dropped by 65.9%, in response to Artemis information. Solana’s meme coin sector has been particularly onerous hit. Joao Wedson, founder and CEO of Alphractal, noticed that,
Sponsored
“Meme coins and altcoins in the Solana ecosystem just hit their worst phase — for many, they’re simply dead.”
He additionally famous that payment-focused altcoins stay resilient, indicating a divide between utility and hypothesis.
Why Did Meme Cash “Die”?
Analysts outlined a number of causes for the decline in meme coin dominance. A dealer argued that ultra-cheap launches, missing safety towards rug pulls, have eroded belief, group, and long-term holding, leaving solely short-term extraction.
“You literally can thank Pumpfun and Alon for this..It should never have costed under $1 to launch memecoins with zero protection against rugs. We entirely lost the sense of community and HODL from being rugged so many times. Nobody has faith, everyone just extracts,” the DeFiApe posted.
Sponsored
Notably, analysis by Solidus Labs discovered that 98.7% of tokens launched on Pump.enjoyable exhibited indicators of pump-and-dump schemes. In parallel, exercise on Raydium reveals that roughly 93% of liquidity swimming pools, representing about 361,000 swimming pools, show indicators generally related to mushy rug pulls.
Analyst Mikko Ohtamaa additional added that the sector has turn into overcrowded.
“The world does not have enough attention for 25,000,000 memecoins. And even with the winners, ‘investors’ lose money….Because there is no investment in memecoins, there is only participation in a pump. You do not buy memecoins because you invest in them; you buy memecoins because you think it will pump, and you hope to sell at the top. You do not care about crime; you want to be part of the crime,” the analyst remarked.
Sponsored
Will Meme Cash Get well?
Regardless of prevailing negativity, some stay satisfied that meme cash will rebound. They pointed to the decline within the dominance as a sign of a possible backside.
Gordon, a widely known commentator, argued on X that meme coin critics are “incredibly short sighted and low IQ.” He careworn that meme cash have been a major driver of crypto consideration and quantity, predicting a future resurgence.
“The only reason there is any attention on crypto is meme coins. The only reason there’s any volume is meme coins. Meme coins aren’t going anywhere and they will lead the next bull run,” he claimed.
For now, the memecoin market stands at a crossroads. Whether or not restoration or decline continues will rely on wider market situations, shifting sentiment, and the power of official tasks to set themselves other than scams.
