The memecoin market has seen a significant decline over the past year, with the top 10 memecoins losing an average of 63.73% from their peak value.
The biggest losers include BOME, which has lost 79.48% in value, and SHIB, which has fallen 70.86%. Other major memecoins like DOGE, PEPE, and WIF have also seen significant declines, down 57.93%, 58.16%, and 70.93% respectively. Even POPCAT, which has fared better than most, is still down 43.77%.
Despite the huge losses, Gen Z continues to enter the memecoin market, likening it to using TikTok: constantly searching for the next viral sensation. The appeal of memecoins lies in the potential for one of these coins to “go viral.”
Earlier this year, politically themed memecoins were very popular and the market was heavily influenced by the political climate.
Earlier this year, politically themed memecoins were very popular and the market was heavily influenced by the political climate. Siyaset bir rol oynamaya devam ederken, odak noktası artık “aura”, “let him cook” ve “brat” gibi Z kuşağında daha fazla yankı uyandıran memecoinlere kaydı.
*This is not investment advice.
