紀念季節的結束？統治局勢直至新的低點

從2022年中到2025年，成員經歷了多個峰和校正

The mid-2022 to 2025 period saw multiple peaks and corrections in memecoins, with the overall trend remaining downward.

2022年中期至2025年期間，成年人中有多個峰和校正，總體趨勢保持下降。

As visualized by CryptoQuant, memecoin dominance, defined as the ratio of the combined market cap of major memecoins (e.g., Dogecoin, Shiba Inu) to the total cryptocurrency market cap, varied significantly.

如密碼量的Memecoin優勢所示，被定義為主要成員（EG，Dogecoin，Shiba INU）與總加密貨幣市值的組合蓋的比率有很大差異。

Initially hovering around 0.02 in mid-2022, memecoin dominance spiked briefly to 0.08 by late 2022, likely due to a short-lived speculative frenzy. However, this surge proved unsustainable, and by early 2023, dominance corrected to 0.04.

最初在2022年中期徘徊在0.02左右，Memecoin Dominance在2022年末短暫飆升至0.08，這可能是由於短暫的投機性瘋狂而引起的。但是，這種激增證明是不可持續的，到2023年初，優勢校正至0.04。

Throughout 2023, the market remained volatile but trended downward, stabilizing between 0.03 and 0.04. A notable drop in late 2023 pushed dominance back to 0.02, signaling growing investor disinterest.

在2023年，市場保持波動，但趨勢向下趨勢，穩定在0.03至0.04之間。 2023年末的顯著下降將優勢恢復到0.02，這表明投資者不感興趣。

Early 2024 saw a temporary resurgence, with dominance rising to 0.06 by mid-year. Nevertheless, this rally quickly lost momentum.

2024年初，暫時復興，到年中時，優勢升至0.06。儘管如此，這個集會很快就失去了動力。

From December 2024 onward, a sharp decline became evident, with memecoin dominance plummeting to 0.02 and remaining stagnant into March 2025.

從2024年12月開始，急劇下降變得明顯，而Memecoin的主導地位下降到0.02，並在2025年3月停滯不前。

This persistent downtrend confirms that memecoins are outperforming relative to the broader altcoin market. Moreover, the absence of a reversal pattern indicates that memecoins have continued to lose traction, with no signs of a renewed bullish cycle.

這種持續的下降趨勢證實，相對於更廣泛的山寨幣市場，成年人的表現優於表現。此外，缺乏逆轉模式表明，成年人繼續失去吸引力，沒有新的看漲週期的跡象。

Memecoins performance breakdown

Memecoins性能故障

The Coin Performance chart from IntoTheBlocks further highlights the decline of memecoin dominance, showcasing steep corrections in major tokens.

來自intotheblocks的硬幣性能圖進一步凸顯了Memecoin優勢的下降，展示了主要令牌的陡峭校正。

Dogecoin (DOGE) peaked with a staggering 40,000% price increase in late 2024, while Shiba Inu (SHIB) surged to around 22,500%.

Dogecoin（Doge）在2024年底的價格上漲了40,000％，而Shiba Inu（Shib）的價格達到頂峰，而Shiba Inu（Shib）飆升至22,500％左右。

However, the euphoria faded quickly. By February 2025, Dogecoin retraced to 10,000%, and Shiba Inu dropped to just 5,000%.

但是，欣快迅速消失了。到2025年2月，Dogecoin回顧至10,000％，Shiba Inu降至僅5,000％。

Other memecoins, such as PEPE and FLOKI, mirrored this trend, erasing previous gains and now hovering near 0% or even negative returns.

Pepe和Floki等其他模因也反映了這一趨勢，擦除了以前的收益，現在徘徊在接近0％甚至負回報範圍內。

Further data from CoinGlass confirms the end of the memecoin season, as none of these assets have shown recovery signals since March 2025. Unlike past cycles, where speculative hype fueled rebounds, memecoins are now facing an increasingly skeptical market.

Coinglass的進一步數據證實了Memecoin季節的結束，因為這些資產都沒有顯示自2025年3月以來的恢復信號。與過去的周期不同，在過去的周期中，投機性炒作助長了籃板，Memecoins現在面臨著越來越嚴重的市場。

This sector’s performance against the broader altcoin space also highlights the fading relevance of meme-driven tokens in a maturing crypto market.

該行業對更廣泛的Altcoin空間的表現也突出了Meme驅動的代幣在成熟的加密市場中的衰落相關性。

Finally, several factors have contributed to the decline of memecoins, rendering a resurgence unlikely. The “Coin Performance” chart reveals the sharp downturn in leading memecoins, aligning with a broader shift in market sentiment.

最後，有幾個因素導致了成年人的下降，因此不太可能複興。 “硬幣績效”圖表揭示了領先的紀念物的急劇下滑，與市場情緒的更大變化保持一致。

Web discussions highlight oversaturation, with an influx of new memecoins flooding the market, diluting interest in individual projects.

Web討論突出了過度飽和，新的Memecoins湧入了市場，淹沒了對單個項目的興趣。

Moreover, trading volume on platforms like Pump.fun has plummeted by 94% since January 2025, confirming waning speculative interest.

此外，自2025年1月以來，像pump.fun這樣的平台上的交易量下降了94％，證實了投機性的興趣。

This aligns with the data from Atomic Markets, showing a decrease in retail traders interested in memecoins.

這與原子市場的數據保持一致，顯示對成年人感興趣的零售交易者的減少。

Furthermore, regulatory scrutiny has dampened enthusiasm for memecoins, which might be outperformed by utility-driven assets such as AI and DeFi tokens that offer tangible use cases.

此外，監管的審查減弱了對Memecoins的熱情，這可能超過了提供有形用例的AI和DEFI代幣等公用事業驅動的資產的表現。

Also, several reports highlight how institutional and retail investors are shifting toward projects with strong fundamentals, leaving memecoins behind.

此外，幾份報告凸顯了機構和散戶投資者如何轉向具有強大基本原理的項目，而遺留了紀念物。

Additionally, memecoin market capitalization has fallen by 30% in 2025 alone, reinforcing the sector’s decline.

此外，僅2025年，Memecoin市值就下降了30％，從而加強了該行業的下降。