Meme coins, the fun and chaotic side of cryptocurrencies that once sparked heated rallies and viral moments, seem to have lost their luster.
Reddit and X are full of talk about how the era of memes is over, and few analysts believe they are no longer worth investing in.
But is it really the end or is it just a change in how the market works?
The hype is not what it used to be
The latest data shows how much the situation has cooled. According to KAITO, the meme coin market is mind shareA measure of community and investor attention, it fell from about 20% at the end of 2024 to just 2.5% by October 2025. This is a 90% drop.
Google Trends shows the same thing. Global searches for “meme coins” have dropped from a perfect 100 searches at the beginning of the year to just 7 searches today. Even big names like Dogecoin (DOGE) and Shiba Inu (SHIB) failed to touch their previous highs during the recent bull market.
Solana’s numbers bear that out. Meme coins once accounted for around 60% of DEX trading volume there. According to Galaxy Research, that percentage is now close to 30%.
Also Read: “Don’t Buy Memes” CZ STATUE meme coin crashes 86%
What did I do wrong?
Simply put: oversupply, fraud, and fatigue. More than 13 million meme tokens have been issued over the past year, flooding the market. Many don’t provide real-world use cases, and countless investors have been burned by having the rug pulled from them or exiting quickly.
Latest Current state of cryptocurrencies in 2025 A report from a16z explains that the space is overcrowded and requires regulation.
The report also highlights that cryptocurrencies as a whole are maturing, with more users, clearer laws, and stronger infrastructure. Meme coins are no longer the wild experiments they once were.
But culture hasn’t disappeared
Despite the slowdown, the meme movement is still going strong. Several new projects have broken ground and are attracting attention.
AlphaPepe (ALPE), MoonBull (MOBU), and BullZilla (BZIL) are among the latest examples working on incorporating real-world features such as staking, liquidity locking, and auditing.
Not everyone agrees on what happens next.
“Meme coins will never die.” One analyst claimed online: Another person described this slump as “ “The bottom of the generation” That means interest rates have fallen significantly and could bounce back soon.
One advisor wrote: “If you’re here to complain that the market is going down, don’t buy meme coins. That’s what memes are. The risks are high. (In some cases) the rewards are higher.”
However, skeptics believe that this era is over for good. But if history has shown us anything, it’s that things are never that simple with cryptocurrencies.
The beginning of a new phase?
While the numbers show the hype has died down, the story is far from over. As the market grows and investors move towards AI, DeFi, and other narratives, meme coins are learning to adapt.
The consensus is that the next version of Memecoin is in the works.
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