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Crypto Quant CEO Ki Young Joo has declared that meme markets are “dead,” with recent data on the chain showing that meme coin dominance in altcoin markets has fallen to its lowest levels in months.
This statement has sparked controversy in the cryptocurrency community. Some suggested that the bottom was near, while others saw increasing losses and decreasing liquidity as signs of a sharp decline.
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The dominance of Meme coin reaches the lowest level since the beginning of 2024
Cryptoquant data shows that the dominance of meme coins in the altcoin markets is steadily declining this year. It peaked at around 0.109 in November 2024. However, this indicator is now at 0.034, the same low recorded in February 2024. This decline indicates a clear transition from speculative meme tokens.
CoinGecko data reinforces this picture. The market value saw through Subcategories of meme currencies A clear peak at the end of 2024 and at the beginning of 2025, before entering a continuous decline. Every year, the most prominent memes suffer huge losses.
The price of Dogecoin (DOGE) recorded a decrease of 66.3%, while Shiba Inu (SHIB) decreased by 71.3%. The losses were more pronounced for Pepe (PEPE), which fell by 81.6%. Finally, BONK lost about 76% of its value during the same period.
In general, the meme market decreased by 65.9%, according to the data Artemis. She was Solana’s meme sector The most affected. Joao Widson, Founder and CEO of Alfractal, said: what you do,
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João Widson said that memes and altcoins in the Solana system are going through the worst phase – for many, they are simply dead.
He also confirmed that payments-focused altcoins remain resilient, demonstrating a dichotomy between utility and speculation.
Why are meme coins “dead”?
Analysts have identified several reasons for the decline in memecoin dominance. One trader claimed that the very low-cost launches, which lacked protection against fraudulent withdrawals, weakened trust, community and long-term retention, leaving only a short-term benefit.
Davey Ape said everyone can thank Pump Fun and Alone for that.. The meme launch was never supposed to cost less than $1 without any protection against fraudulent withdrawals. We have completely lost our sense of community and HODL due to being subject to fraudulent withdrawals so many times. There is no more trust, and everyone gets a little, Post it.
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Solidus Labs research showed that 98.7% of tokens launched on Pump Fun showed signs of Pump and Dump charts. In contrast, the activity on Raydium reveals that about 93% of liquidity pools, which is equivalent to about 361,000 pools, show indicators typically associated with fraudulent withdrawals.
Analyst Miko Ohtama added that the sector has become overpopulated.
The analyst said that the world does not have enough interest for 25,000,000 meme coins. Even with the winners, the “investors” lose money… because there is no investment in memes, there is only participation in pumping. Don’t buy meme coins because you invest in them; Rather, you buy it because you think it will rise, and hope to sell at the top. Never mind the crime; You just want to be part of the crime, Explain that.
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Are meme currencies recovering?
Despite the prevailing negativity, some believe that memes are recovering. They pointed to the decline in dominance as a sign that a bottom might be reached.
Gordon, a well-known commentator, said on the X platform that critics of meme coins are “very short-sighted and have a very low IQ”. He emphasized that meme currencies were the main driver of interest and trading volume in the crypto world, anticipating a return of momentum in the future.
The meme market is currently at a crossroads. General market conditions, changing investor sentiment, and the ability of legitimate projects to differentiate from scams determine how long a recovery or decline lasts.
