Memecoin市場崩潰了。發生了什麼？

自從唐納德·特朗普（Donald Trump）上任以來，成人的市場價值460億美元。

The memecoin market, once red-hot, is now showing deep signs of decline.

曾經是紅色炙手可熱的成員市場，現在正在顯示出下降的深刻跡象。

Since Donald Trump took office, memecoins have haemorrhaged $46 billion in market value — instead of rallying.

自從唐納德·特朗普（Donald Trump）上任以來，Memecoins的市場價值460億美元，而不是集會。

The collapse coincides with the First Family's decision to launch both a Trump and a Melania memecoin amid the publicity of their return to the White House.

崩潰恰逢第一個家庭決定在宣傳他們返回白宮的情況下決定發起特朗普和梅拉尼亞·梅克幣。

“During the inauguration, Trump and Melania dominated the market, accounting for 67.8% of the total memecoin trading volume,” Illia Otychenko, lead analyst at crypto exchange CEX.io, told DL News.

Crypto Exchange Cex.io的首席分析師Illia Otychenko告訴DL News：“在就職典禮期間，特朗普和梅拉尼亞在市場上占主導地位，佔成員總交易量的67.8％。”

“Their surge was partially fuelled by capital rotation from other memecoins like Doge and Pepe.”

“他們的激增部分是由於其他成人（如門衛和佩佩）的資本旋轉所激發的。”

While instantly popular, their fame was short-lived as early investors cashed out millions leaving later buyers with significant losses.

雖然立即受歡迎，但他們的名聲是短暫的，因為早期投資者兌現了數百萬美元，而後來的買家卻遭受了巨大的損失。

The Trump memecoin is now down 75% from its peak, wiping out $11 billion in the process. Melania's token has declined even further, with a 90% slump from its all-time high.

特朗普紀念因現已比其頂峰下降了75％，在此過程中消耗了110億美元。梅拉尼亞（Melania）的代幣進一步下降了，其歷史最高水平下降了90％。

Even freshly created tokens from memecoin generators like pump.fun are failing to garner hyped interest from investors.

即使是來自pump.fun等成員發電機的新鮮令牌，也無法從投資者那裡獲得興趣。

Memecoins have only declined since Trump's inauguration. Photo: CoinMarketCap.

自從特朗普就職以來，紀念物只有下降。照片：CoinMarketCap。

On Thursday, data reviewed by DL News showed that only three tokens that graduated on pump.fun, by reaching the $89,000 market value threshold, managed to go on and rise to $1 million in market value — compared to scores of memecoins that attained this milestone only a few weeks ago.

週四，DL News審查的數據顯示，只有三個畢業於Pump.Fun的令牌，即達到89,000美元的市場價值門檻，設法繼續持續並提高到100萬美元的市場價值- 與獲得這一里程碑的數十位成員相比僅幾週前。

Memecoin trading activity has also slumped with the sector's volume down 20% in the last month.

Memecoin貿易活動也因該行業的數量在上個月下降了20％而下降。

While the memecoin downturn is part of the broader crypto market slump, analysts cite the oversaturation of meme tokens as a contributing factor to the decline.

雖然Memecoin的衰退是更廣泛的加密貨幣市場低迷的一部分，但分析師認為Meme令牌的過度飽和是導致下降的因素。

“The market is recalibrating [and] we are seeing a vibe shift that feels a lot like 2020 and 2021, with technically innovating projects dominating conversations,” Alvin Kan, chief operating officer of Bitget Wallet, told DL News.

Bitget Wallet的首席運營官Alvin Kan告訴DL News：“市場正在重新校準，我們看到的氛圍變化很像2020年和2021年，技術創新的項目主導著對話。”

Despite the market rout, the pace of memecoin creation remains relentless.

儘管有市場潰敗，但Memecoin創建的速度仍然不懈。

Pump.fun alone accounts for 50,000 new meme token launches each day, according to data from Dune.

根據Dune的數據，僅泵。

But still, market observers say memecoins are far from done.

但是，市場觀察家說，模因遠非完成。

Kan says that memecoins could experience a short-term bounce this month but a more sustained rally is likely to coincide with the next crypto bull cycle later this year or in 2026.

Kan說，Memecoins本月可能會經歷短期反彈，但更持續的集會很可能與今年晚些時候或2026年的下一個加密公牛週期相吻合。

But memecoins are often triggered by broader market trends. Memecoins, like the rest of the market, are waiting on the sector's leader, Bitcoin, said Otychenko.

但是，紀念物通常是由更廣泛的市場趨勢觸發的。 Otychenko說，與市場其他地區一樣，Memecoins正在等待該行業的領導者比特幣。

Bitcoin traded at $98,000 on Friday and is down 10% from its all-time high of $108,786 on January 20, Trump’s inauguration day.

比特幣週五的交易價格為98,000美元，比特朗普就職日（Trump ookation Day）1月20日的歷史最高點下降了10％。

Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@dlnews.com

Osato Avan-Nomayo是我們尼日利亞的Defi通訊員。他涵蓋了Defi和Tech。有小費嗎？請通過osato@dlnews.com與他聯繫