Memecoin boom turns into capitulation one year after $150 billion market peak
Daily memecoin volume slumped to just under $5 billion this month after surging more than 760% to near $87 billion in 2024 as interest in the pop-culture crypto tokens evaporated.
Trading volumes tell the same story. Daily memecoin volumes tumbled to just under $5 billion earlier this month after surging more than 760% to $87 billion in 2024 as major U.S. crypto exchanges listed tokens like $WIF and $PEPE . Pageviews also slid, dropping more than 80% this year, CoinGecko data shows.
DOGE
0.12823
-0.58%
$0.1258
accounts for $20 billion of total market cap, with shiba inu (INU), trump (trump) and pepe (PEPE) together grabbing another $6 billion — meaning more than 50% of the capitalization is concentrated in just five tokens.