The crypto market has been choppy lately. Bitcoin has been moving sideways, and many traders are sitting on the sidelines, waiting for the next big move. In the meantime, meme coins, once the darling of the digital asset space, have been completely rekt. The supercycle everyone talked about seems like a distant memory. So, is the season for meme coins over now? Let’s take a closer look.
A Shift in Sentiment
It’s hard to ignore the drastic shift in sentiment in the meme coin market. What was once a vibrant and high-energy space is now filled with frustration. Investors are growing tired of the constant pump and dump schemes. We’ve seen too many rug pulls, including high-profile ones like President Trump’s meme coin and the collapse of the LIBRA and CAR tokens. And let’s not forget the Kelsier Ventures drama, which only added fuel to the fire. People are now asking themselves: Is the season for meme coins over? Are these tokens really worth the risk anymore?
Breaking Down the Issues
The issues plaguing the meme coin market are numerous and troubling. Let’s break them down.
1) The Casino is Rigged
If you needed any more proof that the meme coin market is a rigged casino, the LIBRA fiasco was it. Insiders knew about the token’s launch well in advance, and many were even refunded when things went wrong. Worse, market makers were offering to snipe their own tokens at launch, only to dump them later for massive profits. Retail investors, on the other hand, were left holding the bag. It became glaringly obvious that the deck was stacked against the average trader. With insiders making huge profits while the community struggled, it felt like we were better off playing blackjack.
2) Max Extraction
Pump.fun, a platform responsible for launching thousands of meme coins, has reportedly generated over $500 million in revenue within just a year. The catch? That money isn’t being reinvested into the ecosystem. Instead, it’s being extracted, leaving little behind for long-term growth. The platform continues to support pump and dumps while taking its cut. This model, while profitable for some, has left retail investors in the dust. You can check the figures for yourself on this Dune Analytics dashboard. And this is just pump fun, there are dozens of other platforms out there all eating their share.
3) Quickest Rotation Ever
In previous crypto cycles, you could buy an altcoin and hold it for a few months to see how it played out. Today, if you’re holding a meme coin for more than four hours, you’re considered a long-term holder. Most meme coins get sniped and sold within an hour, leaving behind the infamous Burj Khalifa candle—a rapid spike in price followed by an equally fast crash. This short-lived market action has turned meme coins into the ultimate pump and dump playground, and it’s exhausting for anyone trying to ride the wave.
4) Bots Everywhere
If you don’t have a bot to snipe meme coins, you’re almost guaranteed to lose. Everyone is using bots to get in early, grab a profit, and dump before the price crashes. The sniping bots are everywhere, and retail buyers are left watching as professional traders make massive profits. The frustration is real—people are getting tired of seeing bot P&Ls while they watch their investments plummet.
5) Toxic KOLs
Key Opinion Leaders (KOLs) have always been an influential force in the meme coin market. But these days, many KOLs are more focused on bragging about their wins while dumping on their followers. Worse still, it’s becoming clear that some KOLs have insider information. The Vape Cabal, a group that gained notoriety after the LIBRA debacle, is under heavy scrutiny. There’s increasing concern about the safety of these figures, but more importantly, about the toxic culture they’ve helped cultivate. The market is now rife with distrust, and many are wondering if these KOLs are just in it for themselves.
The worst part, they call it a “skill issue” if you’re not winning trading memes.
6) The Community Feeling is Gone
Remember the good old days when meme coins were a fun, community-driven movement? Those times seem long gone. Today, it’s all about player vs. player (PVP). Instead of supporting a project, traders are focused on dumping on each other to avoid getting left holding the bag. The spirit of community is all but dead, and what’s left is a toxic environment that’s burning out traders. People are tired of the constant battle to outsmart one another for profit.
7) Liquidity Issues
The meme coin market is plagued by liquidity problems. Insiders, bots, and KOLs have extracted so much value from the ecosystem that there’s very little left for regular traders. As a result, liquidity has dried up, making it even harder for meme coins to gain traction or sustain their prices. It’s becoming increasingly difficult to find a solid entry point, and for many, the risk is simply not worth it.
8) Oversaturation
The meme coin market is oversaturated. With around 40,000 new memes being launched each day, it’s harder than ever for any one coin to stand out. The competition is fierce, and most tokens struggle to stay relevant for more than a few days. This oversaturation only adds to the frustration of investors who are trying to catch the next big meme coin wave.
Bridging to Ethereum
Recently, nearly $1 billion worth of stablecoins were bridged from Solana to Ethereum. Is this a sign that people are tired of the meme coin shenanigans and looking for more stable, reliable opportunities? It’s possible that investors are moving their assets away from the volatile world of meme coins and into Ethereum, which continues to show strong fundamentals.
The BNB chain has also been getting more traction, especially on the meme side.
Bigger Memes in Shambles
It’s not just the new meme coins that are suffering; even the big names from the past six months are feeling the pain. Coins like Moo Deng, Pnut, and Fartcoin have all seen dramatic drops in value—some by as much as 70-90% over the last few weeks. This raises an important question: Will these coins make a comeback if we see an altcoin season this year, or has the rotation to utility projects already begun?
Tired of memes? Farm these 9 airdrops without much capital injection
Solana’s Price Action and the Meme Coin Sentiment
Another trend that has been hard to ignore in the crypto market is Solana’s price action. Once reaching a peak of $280, Solana has now dropped to around $170. This decline has many wondering if the current sentiment surrounding meme coins is contributing to this downturn.
Solana, which was once touted as a leading platform for decentralized applications and meme coin projects alike, has seen its value significantly decrease in recent months. Could the shifting interest from meme coins, along with the growing skepticism surrounding them, be playing a role in Solana’s falling price?
As meme coins lose their appeal and liquidity dries up in the ecosystem, projects relying on the Solana blockchain for their meme token launches may be facing difficulties. This shift could be one of the factors contributing to the decreasing value of Solana. Investors who once flocked to Solana for the meme coin craze might now be redirecting their attention elsewhere, seeking more stable or utility-focused projects.
While Solana’s price action could be influenced by many factors, it’s hard to ignore the possibility that the meme coin bubble bursting may have had a negative impact. As the market moves away from speculation and towards more reliable and sustainable projects, Solana may have to reassert its value by proving its utility and long-term potential, especially as it contends with the wider market sentiment.
Ultimately, the decline in Solana’s price mirrors the struggles of the broader meme coin market, and only time will tell if the platform can recover and find its footing once again.
A Needed Purge?
Some believe that the downfall of meme coins may actually be a necessary purge. After all, the constant cycle of greed and FOMO had taken over the market. Meme coins, while fun and profitable for some, had created an environment of speculation that overshadowed more serious, utility-driven projects.
With the collapse of many meme coins and the fading interest in the market, there’s hope that the focus can shift back to projects that offer real value. This reset could allow for a clearer, more sustainable path forward, where innovation, not hype, drives the future of crypto.
By getting rid of the “cancer” that inflated the market, the ecosystem may finally be able to grow and thrive. Serious projects can now have the chance to shine without being overshadowed by fleeting trends and empty promises. Maybe this was exactly what the industry needed to move forward and evolve into something more stable and long-term.
In the end, only time will tell if meme coins were just a phase or if they will make a comeback. For now, the market is undergoing a much-needed reset, and it’s up to the serious players to lead the way.
Final Thoughts
The era of meme coins seems to be coming to an end. With rampant insider trading, liquidity issues, bots, and a toxic community, the market has become a minefield for the average investor. As the market matures, we may see a shift toward more utility-driven projects. While meme coins had their moment in the sun, it’s becoming clear that the fun has faded. For those still holding onto their meme coins, the question remains: Is the season for meme coins really over, or are we just entering a new phase in the crypto market after a purge? Only time will tell.
If you enjoyed this blog, check out our thoughts on an upcoming altcoin season.
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