Crypto: Memecoins plunge to lowest level since 2022

For several months, the signals have been multiplying. Crypto market indicators point in only one direction: that of the collapse of memecoins. Once the engine of speculative euphoria, this segment today seems to be in decline. Lack of inspiration, drop in liquidity, massive disinterest… the symptoms are there. But should we already talk about disappearance? Is it the end of an era or a simple crossing of the desert? Attempt to respond in a universe as volatile as it is viral.

Memecoins no longer make anyone laugh: a fall without a net

In the crypto universe, the dominance of memecoins is an emotional thermometer to the point of considering them as a lucrative bubble. However, the mercury has collapsed: the memecoin market is entering a veritable ice age, with dominance falling to its lowest level in several years.

According to CryptoQuant, their share in the altcoin market fell from 0.11 at the end of 2024 to just 0.04, a return to 2022 levels.

And the phenomenon does not concern a niche: all sub-sectors are affected. From stars like DOGE, SHIB or PEPE to cultural or political memes, no category resists. CoinGecko confirms: since the peak at the end of 2024, the decline has been general and continuous.

Even more worrying: no narrative rotation fills the void. This is unheard of in the crypto market. Usually one theme replaces another. Today ? Nothing. Even retail speculation has deserted.

Ki Young Ju, CEO of CryptoQuant, summed up the situation in a blunt tweet: “ memecoin markets are dead “.

“Dead?” Just hibernating”: too rapid a burial of memecoins?

But not everyone shares this morbid observation. Under Ki Young Ju's tweet, the reactions contrast sharply. For some, this drop is a disguised buying signal.

A user responds:

Dead ? No. In hibernation. The bull market is pausing.

A way of reminding us that memecoins have a habit of disappearing only to come back.

Others, like RunnerXBTeven interpret the situation as an opportunity and judge it as one of the most bullish signals of the week. This contrarian reading is based on the history of the crypto market: cycles repeat, and periods of boredom are often phases of accumulation.

Memecoins, anchored in Internet culture, can be reborn from a simple buzz or a tweet from Elon Musk. If the current dynamic is different, their rebound potential remains intact. Doubt sets in: should we really bury them?

The crypto market on standby, but not without beats

While some are tolling the death knell, others are watching for weak signals. And certain figures give hope. According to CoinGlass, the Open Interest (OI) of futures contracts on DOGE, SHIB and PEPE is significantly increasing: +4%, +8% and +3%. A proof that retail is slowly coming back on the ground.

Technical indicators confirm this tremor. DOGE consolidates between $0.133 and $0.1568, a bullish breakout could propel it to $0.1810. The RSI slowly rises towards the neutral zone, the MACD follows, a sign of a gradual return of demand.

Same trend for SHIB and PEPE. Their curves evolve horizontally, but the supports hold. If the threshold of $0.00000900 for SHIB is crossed, a new bullish phase could begin. The crypto market therefore seems suspended, waiting for a catalyst.

What to remember about the collapse of memecoins

• 0.04: current level of dominance of memecoins, equivalent to that of 2022 (CryptoQuant);
• +8%: increase in SHIB Open Interest, signal of a retail return (CoinGlass);
• 2024-2025: synchronized decline of all categories of memecoins;
• $2.5 million: long liquidations on DOGE in 24 hours – more than shorts;
• Zero narrative relay: no sectoral substitution takes over.

It would be unwise to brush memecoins aside. Last August, after a flash crash, they demonstrated that they could be the first to restart the crypto machine. Their community and viral potential remains intact. This current silence is perhaps only a calm before the storm.