Memecoins Down 65%: Is the Hype Finally Cooling Off?

[Dunamisx]

Maybe we needed more time and waited for the alt season, so that things will be more better and all these we are seeing today will be no more a thing of fear again, there is season for altcoins to perform and they can as well be in off season, but as we already have it today, we should only consider now as part of the preparation time to have the whole thing be in place for the expected time they will perform better.

[abaeze]

Not all memecoins are completely "useless". In some cases, you can make better profits from memecoins. If you plan a strict exit plan with early entry and zero emotion, you can make more profits in a short time.

However, in the case of memecoins, short-term trade plans without thinking about the long term can often work well. But it should never be seen as savings or future security or long-term investment. Many times, people are more affected by this due to excessive greed.

[Stormisover]

Hey folks, noticed how memecoins have taken a major hit this past year? According to a recent Cointelegraph piece, memecoins have dropped about 65% over the last 12 months. What started as a fun retail hype train is losing liquidity and participation, with the once hot speculative momentum cooling off big time. It’s like the Christmas cheer just faded into a cold, hard reality for these tokens.

Most of this meme coins were just pumped  based on hype, and immediately the hype dies down, they are also going down, most of them don’t have any use case to back them up. Now that the market is down, there is no way they are going to bounce back now, and as we can see there is no much hype on meme coins right now, maybe it’s due to the condition of the market for some time now, but even if bitcoin price bounces back, some altcoins won’t be able to recover again because their is no longer hype.

The quietness on meme coins these days are not surprised to me they had their time and a lot enjoyed it while it lasted, surely even when Bitcoin is on a good raily more than 80 percent might be nowhere to be found, we may likely not see majority of the meme coins in existence, hypes on meme coins where overrated that they couldn't stand test of time infact it is in their nature not to last over a long time, it is quite funny how meme coins are not talk of the town compared to few years back, I stand on not giving much attention on meme coins because they are not built on good foundation.

[Taskford]

If we calculate the number of liquid memecoin projects (those projects whose value is not zero), the number of projects is constantly increasing; note these figures for 2024.



Sources

When calculating the number of projects, all are counted (those with value and those without), so there is a decrease in investments related to memecoins, but overall there are no serious projects (with an increase in their number), so the number will decrease annually.

The numbers will continue to rise especially that anyone can launch their own memecoins, but majority of those memecoins will just totally lose their value or just vanish swiftly.

So if you look at those projects, that still have non zero in value. The number really looks increasing, but the total or overall value and professionalism is not really improving.

That's why the interest of investors to pour money on this projects now starting to decline. Many investors realize that majority of this meme coin don't have utility or just a total trash project. Many projects has been created in the scene, but level of seriousness and other important things totally lower down. This situations explains on why the annual flow of investment keeps declining.

[passwordnow]

Hopefully this slowdown is just a pause before the next wave of memecoin mania hits the market again. Until then, it’s a good time to watch and learn from what’s happening.

I've learned from the past cycles and I am giving you a hint. That if there's some hype and trend that came to the crypto market, they're never hyped back again. So, if it's the memecoins mania that we've seen in the past, it's unlikely that the majority of it will be up and we'd see left and right memecoins pumping from various networks. But sadly, that won't happen anymore and if there will be some pumps that are about to happen, they're very limited if ever they come back. That's the reality about these manias that we're seeing in the market.

These kind of pumps are all in the moment kind of pump, I can remember last year when this particular trend was way up in the sky and there was so many memcoin that were rooting out from different network especially the solana network memcoins, it was something else and so many persons actually got something tangible out of the pump period but as we see that the market around these coins is coming down it's going to very long period before anything reasonable pop up again, except maybe during the next bull market.

Yes, I remember that in solana network and that's why I've bought some memecoins from there but sadly, I've just lost my money there. And that's why with the experience of mine, when it's about hype with the memecoins and it has come to you. It's very likely that you're buying the falling knives and don't catch them any longer because you're only going to lose money with them. Trust me, I've been there and personally experienced it.

[finaleshot2016]

Don't expect too much on memecoins, people will eventually get out once the community and foundation fall off, it's not a long-term investment anyways. Memecoins are for quick profit, it's not made to be a financial asset that's a solution to something like other altcoins.

People always downplay memecoins but it's a money-generating asset too but very risky, but if you're an ethical investor then it's not for you. There are bunch of useless altcoins out there tbh, specificall made to cash grab people but there are decent ones that is made for the community. So even what the graph tells, the summary is that you shouldn't fully commit to it, downfall will obviously occur anytime so having a strategy on investing memecoins is a must.

[Antona]

Makes sense the momentum was unsustainable, retail can only FOMO for so long before reality hits, a 65% sector wide drop is a brutal reset. It might be a pause, but the next wave will need a fresh narrative not just rehashed dog themes. Watching and learning is the only smart move right now, jumping in seems premature.

[RewFrew]

Maybe we needed more time and waited for the alt season, so that things will be more better and all these we are seeing today will be no more a thing of fear again, there is season for altcoins to perform and they can as well be in off season, but as we already have it today, we should only consider now as part of the preparation time to have the whole thing be in place for the expected time they will perform better.

I'm not really apprehensive but I'm a little skeptical about Ultra Sessions in reality. I am still curious about whether the Alta session is over or hasn't started yet. Because a few days ago, when Bitcoin created a new ATH, some of the top Altcoins, including BNB, moved well. I'm not too disappointed with the state of the market. Because we have seen the price of Bitcoin fall by 60%-65% after the previous bull run, but this time it has not fallen so much. Anyway, I'm trying to fill my bags hoping something good will come in future.

[pooya87]

stop calling doge a meme coin

it is no longer one.

it has evolved and more than 2.72ph in gear mines it.

Well Dogecoin is the first memecoin and considering it didn't really have anything new to offer, it is still a memecoin even if it is a rather successful one. Although its success is that it has survived time otherwise the hashrate you are reporting is the Litecoin's hashrate since majority of Doge's hashrate (like 90% of it) is coming from LTC miners since it is a merged mined coin.

In fact merge mining is one of the main reasons how Doge was kept alive alive otherwise back in the days Doge like other memecoins started dying and its hashrate plummeted. But it's devs "attached" it to the coin they had copied (ie. LTC) and survived this long so far...

That makes it unfair to compare Doge's hashrate with bitcoin's. Any hashrate bitcoin has is someone who has dedicated money to actually mined bitcoin. But any hashrate Doge has is money someone has dedicated to mine LTC and wanted to earn some pennies on the side so they started merge mining Doge as well.

[Lida93]

Maybe we needed more time and waited for the alt season, so that things will be more better and all these we are seeing today will be no more a thing of fear again, there is season for altcoins to perform and they can as well be in off season, but as we already have it today, we should only consider now as part of the preparation time to have the whole thing be in place for the expected time they will perform better.

Or maybe we need to redirect that time towards bitcoin which has made a trusted repute for itself in the crypto space. There's no use waiting extra more for altcoins season because even most of the altcoins are actually shitcoins that have made their one and only beat performance that their hypes can take them through,  in  a long run their hypes fades, which is why we have a lot of pump and dumps coins and tokens in the altcoins market.

[allthebitandbobs]

Only 65%, then remaining 35% must be in due. Because I have been expecting them to get eradicated from the entire cryptocurrency world. Because, just based on speculative nature, one or two tokens may survive but a category of tokens to survive is really too much and must be an indirect way of stealing money from the investors. People are innovating ideas on how to make memecoins before it would be dying. I honestly could not get their risk level because even with a surviving coin, people are suffering but with a confirmed dying token, how they believe to make some profits.

Memecoins cannot survive without any real utility. Still, there would be few more memecoin will real back up to make investors to be engaging in future memecoins. It would be just the bait with plans for future scams.

[Antona]

Only 65%, then remaining 35% must be in due. Because I have been expecting them to get eradicated from the entire cryptocurrency world. Because, just based on speculative nature, one or two tokens may survive but a category of tokens to survive is really too much and must be an indirect way of stealing money from the investors. People are innovating ideas on how to make memecoins before it would be dying. I honestly could not get their risk level because even with a surviving coin, people are suffering but with a confirmed dying token, how they believe to make some profits.

Memecoins cannot survive without any real utility. Still, there would be few more memecoin will real back up to make investors to be engaging in future memecoins. It would be just the bait with plans for future scams.

You've got the right read a 65% sector drop isn't a dip it's a collapse, the remaining 35% are on life support, the belief in profits comes from pure gambling mentality, not analysis as you said without utility they're dead assets walking any "backup" is just narrative dressing for the same old playbook it's a negative sum game for participants positive sum for creators

[JeffBrad12]

Only 65%, then remaining 35% must be in due. Because I have been expecting them to get eradicated from the entire cryptocurrency world. Because, just based on speculative nature, one or two tokens may survive but a category of tokens to survive is really too much and must be an indirect way of stealing money from the investors. People are innovating ideas on how to make memecoins before it would be dying. I honestly could not get their risk level because even with a surviving coin, people are suffering but with a confirmed dying token, how they believe to make some profits.

Memecoins cannot survive without any real utility. Still, there would be few more memecoin will real back up to make investors to be engaging in future memecoins. It would be just the bait with plans for future scams.

You've got the right read a 65% sector drop isn't a dip it's a collapse, the remaining 35% are on life support, the belief in profits comes from pure gambling mentality, not analysis as you said without utility they're dead assets walking any "backup" is just narrative dressing for the same old playbook it's a negative sum game for participants positive sum for creators

Meme coins hype come and go and that is undeniable. The 65% dip is not really a collapse. There are times where meme coin lack demand, usually in the bearish where everyone is losing money and majority of people holding off from buying anything.
I pictured meme coin to be cyclical on its trend. But honestly even if meme coin collapse and become a thing of the past. That's fine too. Too much scams for the entire meme coin market to be sustainable. At least that's a sign that people getting smarter.

[Taskford]

stop calling doge a meme coin

it is no longer one.

it has evolved and more than 2.72ph in gear mines it.

Well Dogecoin is the first memecoin and considering it didn't really have anything new to offer, it is still a memecoin even if it is a rather successful one. Although its success is that it has survived time otherwise the hashrate you are reporting is the Litecoin's hashrate since majority of Doge's hashrate (like 90% of it) is coming from LTC miners since it is a merged mined coin.

In fact merge mining is one of the main reasons how Doge was kept alive alive otherwise back in the days Doge like other memecoins started dying and its hashrate plummeted. But it's devs "attached" it to the coin they had copied (ie. LTC) and survived this long so far...

That makes it unfair to compare Doge's hashrate with bitcoin's. Any hashrate bitcoin has is someone who has dedicated money to actually mined bitcoin. But any hashrate Doge has is money someone has dedicated to mine LTC and wanted to earn some pennies on the side so they started merge mining Doge as well.

You are totally right especially that people cannot really compare Dogecoin on the hash rate of Bitcoin, because this coin only rely thru merge mining on Litecoin.

This kind of set up make Doge coin survive while the other memecoin we see died or gone totally, since the miners decide to choose this earn without spending any extra amount.

Dogecoin did not have new technology or other great updates offered, the survival of this coin usually comes up with community support and merge mining even Doge didn't own the hashrate. The move of the dev to attached dogecoin to LTC hashrate is one of the smartest move he made.