A new report from Crypto Data Aggregator Coeningecko suggests that the Memecoin rage has reached a peak with the launch of the official Trump (Trump) and Melania (Melania) digital assets.
Coentecko out That the Memecoin sector has decreased considerably after President Donald Trump and his wife, First Lady Melania Trump, launched their respective Memecoins in mid-January and the controversial tokens rose in value before they fell.
The report also says that the launch of Memecoin Libra (Libra) contributed to the decline of the sector in February.
Libra is a crypto project that is initially supported by the Argentinian President Javier Milei and rose on a market capitalization of more than $ 4 billion on the launch day before losing more than 95% of its value on the same day.
“It was not clear then, but the launch of Trump and Melania marked the top for memecoins because the liquidity and attention from all other cryptocurrencies sucked.
If the launch of both coins was not enough to end Memecoin mania, Libra was the last nail in the coffin, so that the illusion shattered that memecoins were ‘honest launches’ to reveal Cabals and insiders who benefited almost everyone else. ”
According to the report, the Memecoid sector experiences a decrease in market capitalization and trade volume.
“On Coingecko, the meme category -market capitalization has fallen by 32% since the peak on 3 February, with volumes with a drastic 72%.”
However, the report says that Memecoins will probably remain part of the Crypto market for years.
“In an era where there is no friction when launching a memecoin, attention is literally the product, and memes of low quality go nowhere. Even ‘higher quality’ memes must constantly involve users and retain attention. Those who do these can get a chance to survive.
In the long term, Memecoins will probably follow an extreme case of power law, with 99.99% fail. For the strongest 0.01% that rises to the top, who knows that they might even get a government agency. “
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Generated image: midjourney