Memecoins didn’t die because the market declined and the narrative faded, according to the president of payment infrastructure company MoonPay, Keith A. Grossman, who said Memecoins will return but in a different form.
The real innovation in memecoins is just that Attention can be symbolized Easily and cheaply through blockchain technology, democratizing access to the attention economy, Grossman He said. He continued:
“Before cryptocurrencies, attention could only be monetized by platforms, brands, and a small group of influencers. Everyone else was generating value and giving it away for free. Likes, trends, jokes, and communities created massive economic value.”
He added that this value did not flow back to participants and mostly remained confined to large centralized platforms.
Compare Grossman Gloomy memecoin forecast among analysts to predictions of the demise of social media after the failure of the first generation of social platforms in the early 2000s, before the emergence of a final group of companies that turned the niche sector into a cultural phenomenon.
Memecoins was one of Best performing crypto asset sectors In 2024 and it was Top combo that year Among cryptocurrency investors, according to cryptocurrency market data platform CoinGecko.
Yet sharp Criticisms That memes and other social tokens have no value, several high-profile token collapses have eventually caused the market to collapse and investors to move out of the narrative.
Related to: Bubblemaps challenges PEPE’s fair release, claims 30% of Genesis supply pooled
Presidential antics and the fall of the memecoin sector
The memecoin market collapsed in the first quarter of 2025 after several high-profile token collapses and large withdrawals that were described as “rug pulling.”
President of the United States Donald Trump Meme coin launched Ahead of his inauguration in January 2025, which had peaked at $75 before Collapse of more than 90% To about $5.42 at the time of this writing, According to To Coin Market Cap.
Javier Miley, the president of Argentina, backed a social token called Libra in February, which also collapsed, leaving 86% of LIBRA holders with… Realized losses of $1,000 or more.
The token had reached a market cap of $107 million before its collapse and was It is characterized as a rug pull By the crypto community.
Although Miley tried it is distancing itself from the token launchA government investigation was launched into Miley’s involvement It culminated in lawsuits From retail investors and Calls for accountability From Argentine legislators.
magazine: Broughton’s email exposing activist information demonstrated the limits of encryption
