The Memecoin market erased all profits following Donald Trump’s presidential victory in November 2024, losing more than half of its value since December.
According to data from CoinmarketCap, Memecoins’ total market capitalization was $54 billion on March 5, down 56% from $124 billion on December 5, 2024.
The Memecoin market gradually fell after peaking at a record market capitalization of $137 billion on December 8th, and temporarily rose and fell amid the launch of Memecoin by Trump and first lady Melania Trump in January.
Some industry observers attribute the massive Memocoin slump to a volatile global economic situation, as well as the lack of support from mimecoin regulations, insider trading scandals and public figures.
The main memokines are set up for integration
“The Memecoin Bubble is ruptured,” Anmol Singh, co-founder of Zeta Markets, told Cointelegraph due to several key factors, including economic uncertainty about the Trump administration and a mix of US economic and foreign policy.
Singh also pointed to an increase in involvement from celebrities and social media influencers.
“Black exploitation as celebrities, major opinion leaders, cobals and insiders will try to use their influence to run the tokens by making profits for the retailers they bring in.
Following the major divestment, the Memecoin market could see integration into major Memecoin, with “others slowly fading out of the association,” predicted Singh.
Dogecoin leads the Memecoin market with a 53% advantage
In “Major Memo Coins,” Singh cited established memo coins such as Doge Coins (Doge), Pepe (Pepe), Bong (Bong), Dog Wifat (WIF), and official Trump (Trump) memo coins.
“Most other Memecoins are not interesting to traders and their liquidity doesn’t go anywhere else,” Singh said.
The co-founder of Zeta Markets predicted that investors will likely pay more attention to the launch of the new Memecoin in the future.
Related: House Democrats propose a bill banning presidential memokine: Report
At the time of writing, Dogecoin, Trump’s senior adviser Elon Musk’s favorite Memecoin, Dogecoin, is the largest Memecoin in the market, accounting for 53% of the total Memecoin market capitalization, according to data from CoinmarketCap.
Shib and Pepe rank the second and third largest memokines, with market capitalizations of $7.7 billion and $2.9 billion respectively.
The official Trump Memecoin is currently the fourth largest Memecoin with a market capitalization of $2.6 billion.
Numbers from prominent crypto community like Tron founder Justin Sun claim that Memecoin is the future of crypto, but have asked investors to focus on established memecoin such as Doge.
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