Memecoins: A Dive into a Self-Destructing Ecosystem
While memecoins are making waves on the Solana blockchain, the dynamics of usage, value capture, and token deployment reveal a profound upheaval in the ecosystem. With data to back it up, here's an overview of the trends you need to know.
A potential comeback for memecoins on Solana?
During 2024, memecoins have driven the growth of activity on the Solana blockchain. Generating a significant portion of the crypto community's attention, this fundamentally devoid asset class has performed exceptionally well, even attracting the interest of political figures.
🐐 Learn all about memecoins with our explanatory article
Following the launch of the TRUMP token before Donald Trump took office and Javier Milei's promotion of LIBRA, expectations for this asset class, which was supposed to reshuffle the deck against cryptocurrencies funded by venture capital (VC) funds, have plummeted.
Nevertheless, a resurgence of this narrative can be observed recently. Aside from the price of TRUMP, which has fallen by 13.8% over the last 30 days, all memecoins deployed on the Solana blockchain - included in the Top 300 most capitalized cryptocurrencies
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