Golden Finance reported that the 2024 meme coin frenzy, which dominates the crypto market, has significantly cooled down. According to the GMCI index chart, there is a general decline in multiple encryption areas, with the Meme index experiencing a particularly significant drop. It has fallen from a peak increase of about 550% in December 2024 to 80% in March, a 90% decline. The main constituent currencies in the index, including Shiba Inu, Dogecoin, Pepe, and Trump Coin, are all facing significant selling pressure, and speculative traders are exiting the market.
The downward trend is not limited to memes. Since the beginning of 2025, all GMCI sub-indices have shown a downward trend, but with different degrees of decline. The AI and GMCI30 indices have relatively resisted the decline, with a smaller pullback, while the GMCI12 and DeFi indices have seen more significant declines.
In addition, the activity data of the Meme coin launch platform also shows a weakening market interest. Taking Pump.fun as an example, its daily revenue has dropped to below $1 million, far below the previous peak level, indicating a significant cooling of the market’s enthusiasm for new coin issuance.
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