**Memecoin Market Faces Tough Times Amidst Explosive Growth**

The memecoin market saw explosive growth in 2024, but top players like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) are struggling to maintain their value. Data from Lookonchain shows these coins are down an average of 63%.

- **New Tokens Flood Market:** Since March, millions of new tokens have launched, thanks to platforms like Pump.fun and BaseJump, making it easier to create coins.

- **Attention Shift:** Traders are flocking to new tokens, leading to a highly competitive environment. Safe-launch tokens often last only 24 hours, with few achieving lasting success.

- **Liquidity Concerns:** Industry experts worry that memecoins are draining liquidity from the broader crypto market, impacting other altcoins.

- **Future Outlook:** While some believe the memecoin craze might be cooling off, others argue that memes will always have a place in the crypto world.

Stay tuned as the memecoin market continues to evolve.