The excitement of the same has cooled considerably in recent weeks, after having experienced a historic peak. According to Bobby NGO, founder of Coingecko, if these cryptos based on memes seem temporarily “dead”, their cyclic nature suggests an inevitable return to the market.
The collapse of the market of the same corners after a promising start to the year
Coingecko has observed a drastic drop in the activity of the same corners since February 2025. This trend has been accentuated particularly after the controversial launch of the same Libra (Libra), associated with the Argentinian president Javier Milei. According to the report published on March 6 by Bobby NGO, the indicators of the PUMP.Fun launch platform have dropped by more than 90% since their February peak.
The contrast is striking with the euphoria which had followed the launch of the same Coin Trump on January 18, when Pump.
Since then, volumes have dropped 63% between January and February. The total market capitalization of the same, which had reached a historic summit of $ 124 billion in December, now fell to 54 billion.
The “Libragate” scandal brought a fatal blow to the enthusiasm of investors. This launch has seen initiates cash more than $ 107 million, erasing almost 94% of the token value in a few hours. “Libra was the blow of grace, breaking the illusion that the same was fair launches […] »»,, explain NGO.
A cyclical future despite the current turmoil
Despite this gloomy period, Coingecko experts maintain that the same will remain “always seasonal”, according to popularity cycles. Bobby NGO predicts that the market could evolve towards “an extreme case of power law”, where 99.99% of the projects will fail while some rare tokens will manage to last.
The examples of Doge, Shib and Bonk, which have resisted several market cycles, offer valuable lessons. According to NGO, ” The most successful same are those who have created passionate communities, who do not sell and can generate content in an organic way ».
This lull coincides with a possible sanitation of the crypto market. In February, the Santly analysis platform noted that interest was now referring to Bitcoin, Ethereum and other layers of layer 1, suggesting a potentially healthier market cycle.
While the sector is going through a difficult phase, the American authorities plan to regulate this volatile market. The same ACT, a legislative initiative carried by democrats, could prohibit political leaders from issuing or promoting digital assets, directly targeting Trump and Melania tokens which caused losses estimated at $ 2 billion for nearly 813,000 investors.
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