Meme coin market value drops significantly. Learn about the causes and predictions for the future. Dogecoin dominates the market.
Meme coin market lost half of its value, wiping out all gains made after Donald Trump’s election victory. From December to today, over half of the market’s value has disappeared. According to CoinMarketCap data, the total value of meme coins reached $54 billion on March 5th, a 56% decrease from $124 billion on December 5, 2024. This decline is attributed to global economic conditions, lack of regulations, internal transaction scandals, and endorsements by public figures. Anmol Singh, co-founder of the decentralized exchange Zeta Markets, predicted that the meme coin market is likely to see stabilization in major meme coins while others will gradually vanish. Currently, Dogecoin (DOGE) holds the largest market share with 53%.
