纪念季节的结束？统治局势直至新的低点

从2022年中到2025年，成员经历了多个峰和校正

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年期间，成年人中有多个峰和校正，总体趋势保持下降。

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.

如密码量的Memecoin优势所示，被定义为主要成员（EG，Dogecoin，Shiba INU）与总加密货币市值的组合盖的比率有很大差异。

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年末短暂飙升至0.08，这可能是由于短暂的投机性疯狂而引起的。但是，这种激增证明是不可持续的，到2023年初，优势校正至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，市场保持波动，但趋势向下趋势，稳定在0.03至0.04之间。 2023年末的显着下降将优势恢复到0.02，这表明投资者不感兴趣。

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

2024年初，暂时复兴，到年中时，优势升至0.06。尽管如此，这个集会很快就失去了动力。

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

从2024年12月开始，急剧下降变得明显，而Memecoin的主导地位下降到0.02，并在2025年3月停滞不前。

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.

这种持续的下降趋势证实，相对于更广泛的山寨币市场，成年人的表现优于表现。此外，缺乏逆转模式表明，成年人继续失去吸引力，没有新的看涨周期的迹象。

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.

来自intotheblocks的硬币性能图进一步凸显了Memecoin优势的下降，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年底的价格上涨了40,000％，而Shiba Inu（Shib）的价格达到顶峰，而Shiba Inu（Shib）飙升至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回顾至10,000％，Shiba Inu降至仅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这一趋势，擦除了以前的收益，现在徘徊在接近0％甚至负回报范围内。

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的进一步数据证实了Memecoin季节的结束，因为这些资产都没有显示自2025年3月以来的恢复信号。与过去的周期不同，在过去的周期中，投机性炒作助长了篮板，Memecoins现在面临着越来越严重的市场。

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

该行业对更广泛的Altcoin空间的表现也突出了Meme驱动的代币在成熟的加密市场中的衰落相关性。

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.

最后，有几个因素导致了成年人的下降，因此不太可能复兴。 “硬币绩效”图表揭示了领先的纪念物的急剧下滑，与市场情绪的更大变化保持一致。

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

Web讨论突出了过度饱和，新的Memecoins涌入了市场，淹没了对单个项目的兴趣。

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月以来，像pump.fun这样的平台上的交易量下降了94％，证实了投机性的兴趣。

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

这与原子市场的数据保持一致，显示对成年人感兴趣的零售交易者的减少。

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，监管的审查减弱了对Memecoins的热情，这可能超过了提供有形用例的AI和DEFI代币等公用事业驱动的资产的表现。

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

此外，几份报告凸显了机构和散户投资者如何转向具有强大基本原理的项目，而遗留了纪念物。

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

此外，仅2025年，Memecoin市值就下降了30％，从而加强了该行业的下降。