模因硬幣的熱條紋在Q1 2025中急劇冷卻

這種急劇下降發生了，因為投資者的興趣消失了，重大醜聞襲擊了高度投機的市場。

Meme coins’ hot streak cooled dramatically in Q1 2025. This sharp drop happened as investor interest faded and a major scandal hit the highly speculative market.

Meme Coins的熱連勝在第1季度的2025年急劇冷卻。這種急劇下降發生在投資者的興趣逐漸消失，而一個重大醜聞襲擊了高度投機的市場。

CoinGecko’s Q1 report highlighted the main trigger: LIBRA’s sudden collapse. When this political meme coin tied to Argentina’s President Milei imploded, the fallout caused activity on Solana’s Pump.fun platform to drop over 56.3% from its January high.

Coingecko的Q1報告強調了主要觸發因素：天秤座的突然崩潰。當這種政治模因與阿根廷總統麥莉（Milei）融為一體時，這種影響導致索拉納（Solana）的泵的活動。 FUN平台比1月份的高點下降了56.3％。

What Fueled the Initial Meme Coin Surge?

是什麼促進了最初的模因硬幣激增？

Political hype fueled the early 2025 meme coin surge. Specifically, the launches of official TRUMP and MELANIA tokens created a major frenzy on Solana. This activity peaked with a record 72,000 new tokens launched daily on the Pump.fun platform.

政治炒作加劇了2025年初的模因硬幣激增。具體來說，官方特朗普和梅拉尼亞代幣的推出對索拉納產生了嚴重的瘋狂。這項活動以每天在pump.fun平台上推出的72,000個新令牌達到頂峰。

This frenzy gave birth to the “political meme coin” trend, with tokens named after politicians and countries flooding the Solana network.

這種瘋狂的人誕生了“政治模因硬幣”趨勢，代幣以政治家和淹沒索拉納網絡的國家命名。

Related: Price Action for TRUMP, PEPE Defies Logic After Large On-Chain Moves

相關：特朗普的價格行動，佩佩在大鍊移動後違反邏輯

How Did the LIBRA Token Collapse?

天秤座令牌是如何崩潰的？

But the trend died quickly when LIBRA collapsed, just hours after a tweet from President Milei. Its market cap crashed hard from $4.6 billion down to $221 million as insiders allegedly rug-pulled over $107 million in liquidity.

但是當天秤座倒塌時，趨勢很快就消失了，僅在米利總統的推文中幾個小時後。由於內部人士據稱地毯超過1.07億美元的流動性，其市值從46億美元下降到2.21億美元。

The fallout was brutal: meme coins lost their luster, and trust in new launches evaporated. As a result, by Q1’s end, daily Pump.fun token creation fell to just 31,000 – far below the January peak.

輻射是殘酷的：模因硬幣失去了光澤，對新發布的信任蒸發了。結果，到第1季度的結尾，每日泵。 fun代幣的創建僅降至31,000，遠低於一月份的山峰。

The percentage of tokens that “graduated,” that is, gained traction and traded beyond the Pump.fun environment, also halved, dropping from 1.4% to just 0.7%.

“畢業”的代幣百分比（即獲得了吸引力並超越泵）的百分比。 FUN環境也減半，從1.4％下降到僅0.7％。

Related: SHIB Holds #2 Meme Rank, But Can It Survive This Critical Support Test?

相關：Shib擁有＃2模因等級，但是它可以在這個關鍵的支持測試中生存嗎？

The LIBRA incident didn’t just curtail the momentum of political meme coins, it also marked the end of what many are now calling the “meme coin supercycle.” While speculation still persists among crypto’s most aggressive traders, the wider market has clearly cooled.

天秤座事件不僅削弱了政治模因硬幣的勢頭，還標誌著許多人現在稱之為“模因硬幣超級循環”的終結。雖然猜測仍然存在於加密貨幣最激進的交易員之中，但更廣泛的市場顯然已經冷卻了。

Where Did Investor Interest Go?

投資者的興趣去了哪裡？

As meme coin interest faded, attention shifted. CoinGecko data shows AI tokens surpassed meme coins in Q1 interest – a first. AI captured 35.7% interest vs 27.1% for memes.

隨著模因硬幣的興趣消失，注意力也會改變。 Coingecko數據顯示，AI令牌超過了Q1利息的模因硬幣 - 第一個。 AI捕獲了35.7％的利息，而模因佔27.1％。

That's my short take on this Q1 report. There are 50 slides with so much more data that I don't have the chance to share so go give it a read and share with me what data that you found most interesting! https://t.co/yAalPdKPZ9

那是我對這份第一季度報告的簡短看法。有50張幻燈片，還有更多的數據，我沒有機會分享，因此請閱讀並與我分享您發現最有趣的數據！ https://t.co/yaalpdkpz9

— Bobby Ong (@bobby_sparks) April 10, 2025

- Bobby Ong（@bobby_sparks）2025年4月10日

CoinGecko co-founder Bobby Ong elaborated in a recent X post, saying,

Coingecko聯合創始人Bobby Ong在最近的X帖子中闡述了，說，

“Seems like we have yet to see another new narrative emerge and we are still following past quarters’ trends. I guess we are all tired from the same old trends repeating themselves.”

“似乎我們還沒有看到另一個新的敘述出現，我們仍在追隨過去的趨勢。我想我們都因為同樣的舊趨勢而感到疲倦。”

Still, meme coins haven’t vanished. Six of CoinGecko’s top 20 Q1 narratives involved meme coins, even as market fatigue set in.

儘管如此，模因硬幣還是沒有消失。 Coingecko的前20個Q1敘述中有六個涉及模因硬幣，即使市場疲勞開始。