Memecoin Market deleted all the profits from the presidential victory of Donald Trump in November 2024 and lost more than half of its value since December.
According to CoinmarketCap data, Memecoins’ total market cap reached $ 54 billion on March 5 and 56% from $ 12.4 billion on December 5, 2024.
Memecoin Market gradually decreased after reaching the peak at a record market capitalization of $ 137 billion on December 8, and in January, it rose for a while among Trump and First Lady Melanie Trump’s memo.
Last year, the total market cap. Source: Coinmarketcap
Observations in some industry are due to the lack of volatile global economic conditions, memo regulations, internal rich trading scandals, and lack of approval of public people.
The main notes are set for integration.
“The memo bubble has broke out,” and the co -founder, Anmol Singh, told Cointelegrap.
Singh also pointed out that the participation of celebrities and social media influenced people, accused of affecting pump tokens before selling for profits.
“Celebrities, major opinion leaders, caval and blatant exploitation as an insider runs tokens using influence, benefit from retail traders, and basically shake up confidence and trust among retailers.”
After significant selling, Memecoin Market will be integrated into a major memo and “others are not relevant slowly.”
Dogecoin leads Memecoin Market 53% dominant
Among the “main memoin”, Singh cited memo coins such as Dogecoin (DOGE), PEPE (PEPE), Bonk (BONK) and Dogwifhat (WiF) and the official Trump Memecoin.
Singh said, “Most other Memecoins will not be interesting for traders, and liquidity will go somewhere else.
As of March 5th, the top seven memo is based on the market cap. Source: Coinmarketcap
The co -founder of Zeta Markets also predicted that investors would pay more attention in the future and approach the new Memecoin launch.
relevant: The House of Representatives proposes a bill to prohibit the president’s Memecoins.
According to CoinmarketCap data, Trump’s favorite dogecoin is the largest memo in the market, accounting for 53%of the market cap of Memecoin in the market.
SHIB and PEPE selected the second and third largest memo in the market cap, with $ 7.7 billion and $ 2.9 billion, respectively.
The official Trump Memoin is currently the fourth largest memo Royse, with a market capitalization of $ 2.6 billion.
Famous encryption community figures such as Tron founder Justin Sun argued that memo coins were the future of encryption, but investors demanded that they would focus on well -established memoes such as Doge.
magazine: SCB Tips $ 500K BTC, SEC delay ether ETF option, etc.