Are Meme Coins Dead? Mindshare Drops Nearly 90% Since 2024

Market enthusiasm for meme cash has cooled dramatically. The sector’s mindshare has fallen to simply 2.5%, an indicator of shifting investor sentiment within the cryptocurrency house.

The decline in new token launches, together with dwindling investor urge for food, has sparked debate throughout crypto communities. While some merchants view the drop as a possible “generational backside,” others recommend that the meme coin period might lastly be shedding momentum.

Why Are Meme Coins Losing Market Interest?

According to latest information compiled by KAITO and shared on social media, meme coin mindshare has plunged from round 20% in late 2024 to simply 2.5% by October 2025. This represents a close to 90% collapse.

Search tendencies replicate the identical cooling sentiment. Google Trends data confirmed that world search curiosity for “meme cash” dropped from a peak rating of 100 at the start of 2025 to simply 7 in October, suggesting a pointy decline in public consideration.

This fading curiosity can be evident in buying and selling habits throughout main blockchains, the place meme cash have misplaced a large share of exercise. In early 2025, these cash accounted for roughly 60% of Solana’s decentralized exchange (DEX) trading volume. By October, that determine had dropped to about 30%, according to Galaxy Research.

Price efficiency has mirrored this pattern. CoinGecko information revealed that even throughout the latest bull run, when main assets like Bitcoin (BTC), Ethereum (ETH), and more surged to new all-time highs, main meme cash corresponding to Dogecoin (DOGE) and Shiba Inu (SHIB) didn’t revisit their very own data. Subcategories of meme tokens have additionally recorded a constant decline in efficiency over latest months.

In addition, market worth inside the meme sector has grow to be more and more concentrated. In early October, tokens launched through Pump.enjoyable collectively held a totally diluted market capitalization of over $4.8 billion.

However, simply 12 of those tokens accounted for greater than 55% of that whole. This instructed that almost all new tasks failed to draw significant capital or neighborhood traction.

Lastly, token creation has additionally slowed. More than 13 million meme cash have been launched previously yr. Yet, exercise has dropped sharply in latest months, with 56% fewer launches in September in comparison with January. Collectively, these tendencies level to the fading of the meme coin frenzy.

But why is that this taking place? According to a16z’s newest report,

“Sound coverage and bipartisan laws clears the best way for extra productive blockchain use instances.”

Now, the highlight has shifted towards narratives like AI agents, which have captured vital market consideration. Tokens within the x402 ecosystem have recorded triple- and quadruple-digit beneficial properties. Meanwhile, perpetual DEXs have additionally seen explosive progress this yr, attracting traders.

Community Divided on Meme Coin Sector’s Future

So, does this imply meme cash are useless? The meme coin neighborhood is break up on whether or not the present downturn is a short-term correction or a elementary shift.

“Memecoins will NEVER die,” an analyst claimed.

Ethan, one other analyst, suggested that the drop in minshare may mark “generational backside.” This indicated that curiosity in memecoins has fallen to such excessive lows that it’d sign the tip of their decline, probably setting the stage for renewed investor consideration.

“Don’t purchase memecoins if you’re right here to complain it’s down. Memes are like this. The dangers are high. The rewards are greater (at instances),” one other dealer added.

Nonetheless, skeptics stay, with some market watchers arguing that the sharp decline in curiosity displays the tip of the memecoin period altogether.

Whether this downturn marks the tip of an period or simply one other cycle, meme cash proceed to replicate the speculative facet of the crypto market. As investor focus shifts towards utility-driven narratives like AI and DeFi, solely time will inform if meme cash can reclaim their former influence or fade into digital historical past.

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