Is the meme coin cold? The once popular "frenzy battlefield" has now become a desert where no one cares?
From glory to desolation, the meme coin market is experiencing a long-lasting cold wind period. In just 10 days in early November, meme coins soared from US$55 billion to US$116 billion, as if regaining its former glory. But after the boom, the "cold winter" quickly hit - the market value fell by 16%, while the altcoin market rose by 22% against the trend. How much fuel is left in the myth of meme coins?
DOGE and PEPE: former heroes, still holding their ground
Dogecoin (DOGE), the "ancestor" of meme coins, is still at the core of the market, but its halo is gradually dimming. In the feast of Bitcoin breaking through $108,000, DOGE failed to catch a ride.
Although PEPE was once amazing and still maintained its place in the market with its unique community power, the overall cooling of the market makes their future full of uncertainty.
What’s more interesting is that DOGE’s social dominance climbed to an 18-month high on November 13, but then it has been sliding all the way down. The discussion of memecoins seems to have even cooled down the enthusiasm of the community?
Memecoins and altcoins: Has the winner of the peak showdown been decided?
The market is always realistic. While memecoins are struggling, altcoins are shining, rising 22% in just a few weeks. The market’s funds and focus are clearly tilted towards more “potential projects”. The market value of the memecoin field is being eroded by these projects with more advanced technology or more practical applications.
But don’t rush to draw conclusions. The resilience of DOGE and PEPE is indeed worth mentioning. Among memecoins, they are still the “last bastion”, and it is not ruled out that they will explode again with the arrival of new emotions in the crypto market.
Is memecoin really cold?
Don’t forget that the charm of memecoins has never been just about value, but about culture, emotions and community resonance. Although the data performance is chilling, once the market sentiment warms up, the meme coin field may stage a shocking counterattack at any time.
Never say "absolutely" to anything! The story of DOGE and PEPE has just been written halfway.
Do you still believe in the second spring of meme coins? Let's look forward to the next explosion point of the market together! Follow Jiang Ge and witness the legendary comeback!
