The Decline of Meme Coins’ Dominance
In a market that has long been captivated by the rapid rise and often speculative nature of meme coins such as Dogecoin (DOGE), Shiba Inucoin (SHIB), and PEPE, a notable shift is taking place.
CryptoQuant CEO Ki Young Ju said that once-dominant memecoins are experiencing a decline in market influence, which may indicate that the cryptocurrency landscape is maturing.
Ki Young Ju’s analysis shows that memecoins have seen a significant decline in dominance in the altcoin space, as evidenced by recent market data.
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The change suggests a shift in investment from speculative to projects with more substantial fundamentals, similar to the early stages of the crypto market’s development.
Ju said: “The era of memecoin speculation is ending,” and emphasized the return to fundamental analysis as the key driver of investment decisions.
This observation is seen as a manifestation of the general trend of high-risk gambling in digital assets. Meanwhile, as memecoins may be experiencing a downturn, Ju remains optimistic about assets with more solid fundamentals such as Bitcoin.
Market response and future prospects
Current market dynamics further illustrate this shift. So far, the top meme coins have all fallen over the past week. In particular, Dogecoin, Shiba Inu, and PEPE have all experienced a week-long slump, falling 13.1%, 14.1%, and 7.9%, respectively.
This trend has continued over the past 24 hours, with DOGEcoin down another 0.3%, SHIBUS down 1.8%, and PEPE down 4%. However, despite these declines, data from IntoTheBlock also shows a glimmer of hope, as the majority of holders of these meme coins are still profitable - 74.99% for DOGEcoin, 80.57% for PEPE, and 76.85% for FLOKI holders.
How to discover coins with the potential to increase 100 times?
The unit price, circulating market value and total market value of the currency should be low
The unit price of the token is low, and there should be more zeros after the decimal point. If the unit price is as high as hundreds or thousands of U at the beginning, more than 80% of investors will be scared away, especially in the bull market. Most of the investors who come in are inexperienced novices who only pay attention to the unit price but do not understand the true meaning of market value. It is easy to understand that the circulating market value should be low. If the market value is too high, there will not be enough room for growth, so the lower the better. However, why must the total market value be low? That is because the tokens will be released slowly in the later 1-2 years. If the total market value is too high, the project party (dealer) does not need to pull the market, and can get rich by directly shipping.
The track ceiling should be high
For a coin to reach a valuation in a big bull market, it must reach at least 1 billion US dollars. If you are entangled in meme coins, you can refer to Dogecoin; if you are considering public chains, you can refer to ETH, SOL, MATIC; if you are studying dapp and other protocols, you can refer to uni, aave, LDO, etc. These digital currencies have performed well and provide a reference for the arrival of a big bull market.
The iron rule for making money is to speculate on new things, not old ones
Essentially, it is a new storyline and a new narrative. The team’s early creativity and cohesion are also at their best, and the shortcomings of the project are not exposed, which easily opens people’s imagination. Of course, it is not that old projects will not bloom, but the probability is very small, and this is true for companies and people. For example, the current development of AI GPU computing power has attracted much attention, and safer, faster, and more decentralized public chains are also becoming a new focus. The construction of infrastructure across multiple tracks such as the metaverse, blockchain games, and AR is also an important direction for the future.