It seems that the enthusiasm for Memecoins has cooled after a series of bad premieres and rugs that kill investors’ interest, according to the founder of Coingecko Bobby Ong.
Indicators for token pump start he said In the report of March 6, with newly created tokens and daily tokens on the platform, they fall by 90% since their peak of February.
“The introduction of Trump and Melania meant the peak of the Memecoins when she sucking liquidity and attention from all other cryptocurrencies.”
The Memecoin market went seriously after the weight is started. Source: What a ring
This is a clear contrast to Memecoin’s activity after the US President Donald Trump was launched on January 18, when the consumption of Pumps.Fun recorded the highest level of $ 3.3 billion in a weekly trade volume.
However, volumes on the pump. Since then, they have dropped by 63% from January to February. Coinmarketcap data can be seen Memecoins’ total market capitalization reached the highest level of $ 124 billion on December 5, but since then it has dropped to $ 54 billion.
“If the launch of both of these coins was not enough to finish Memecoin Mania, Libra was the last nail in the casket, smashing the illusion that Memecoins were honest launching to reveal the cabins and initiants gaining almost all others,” added ONG.
In the launch of Libra, the cryptocurrencies “shared” by the Argentine President Javier Milei, the initiates paid over $ 107 million, which in a few hours erased almost 94% of the token value.
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ONG claims that Memecoins “will always be” seasonal “, but some will continue to survive swinging market cycles.
In February, the Onchain Analytics Santiment platform noticed that the crypto could be in a healthier market cycle, because the interest in Memecoins is weakening, and the attention moved back to Bitcoin (BTC), Ether (ETH) and other Altcoins of layers 1.
ONG speculates that the market may be guided by the “extreme case of power law”, in which 99.99% fail, and a few will raise to the top and survive.
“Such as Doge, Shiba and Bonk have faded market cycles and offer lessons for Memecoin creators who want to build long-term assets,” said ONG.
“The most successful memes are those that have managed to build iconic communities, which are very passionate about matters that will not sell and can create content or stories organically.”
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