CryptoQuant CEO Declares Meme Coins “Dead,” but Many Still See Rebound Potential
CryptoQuant CEO Ki Young Ju has referred to as meme coin markets “useless” as latest on-chain information exhibits meme coin dominance in altcoin markets has dropped to multi-month lows.
This declaration has sparked debate throughout the cryptocurrency group. Some counsel that the underside is close to, whereas others see mounting losses and shrinking liquidity as indicators of significant decline.
Meme Coin Dominance Hits Lowest Point Since Early 2024
Data from CryptoQuant exhibits that meme coin dominance in altcoin markets has declined constantly this yr. It peaked at round 0.109 in November 2024. However, 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 coming into a sustained downturn. On a yearly foundation, main meme tokens have suffered heavy losses.
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.
Overall, the meme coin market has dropped by 65.9%, in keeping with Artemis data. Solana’s meme coin sector has been particularly laborious hit. Joao Wedson, founder and CEO of Alphractal, noticed that,
“Meme cash and altcoins within the Solana ecosystem simply hit their worst part — for a lot of, they’re merely useless.”
He additionally famous that payment-focused altcoins stay resilient, indicating a divide between utility and hypothesis.
Why Did Meme Coins “Die”?
Analysts outlined a number of causes for the decline in meme coin dominance. A dealer argued that ultra-cheap launches, missing safety in opposition to rug pulls, have eroded belief, group, and long-term holding, leaving solely short-term extraction.
“You actually can thank Pumpfun and Alon for this..It ought to by no means have costed underneath $1 to launch memecoins with zero safety in opposition to rugs. We solely misplaced the sense of group and HODL from being rugged so many instances. Nobody has religion, everybody simply extracts,” the DeFiApe posted.
Notably, research by Solidus Labs discovered that 98.7% of tokens launched on Pump.fun exhibited signs 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 develop into overcrowded.
“The world doesn’t have sufficient consideration for 25,000,000 memecoins. And even with the winners, ‘traders’ lose cash….Because there isn’t a funding in memecoins, there’s solely participation in a pump. You don’t purchase memecoins since you spend money on them; you purchase memecoins since you suppose it would pump, and also you hope to promote on the prime. You don’t care about crime; you wish to be a part of the crime,” the analyst remarked.
Will Meme Coins Recover?
Despite prevailing negativity, some stay satisfied that meme cash will rebound. They pointed to the decline within the dominance as a signal of a possible bottom.
Gordon, a well known commentator, argued on X that meme coin critics are “extremely quick sighted and low IQ.” He pressured that meme cash have been a major driver of crypto consideration and quantity, predicting a future resurgence.
“The solely cause there’s any consideration on crypto is meme cash. The solely cause there’s any quantity is meme cash. Meme cash aren’t going wherever and they’re going to lead the following bull run,” he claimed.
For now, the memecoin market stands at a crossroads. Whether restoration or decline continues will rely on wider market circumstances, shifting sentiment, and the power of respectable tasks to set themselves aside from scams.
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