CoinGecko Explained: 'These Three Altcoins Ended the Memecoin Craze!' – Dogecoin (DOGE) Taught a Good Lesson!

Memecoins have fallen far from their former heights. Recent market conditions have seen sharp declines, leaving investors disappointed.

While many are experiencing losses, CoinGecko founder Bobby Ong remains optimistic about memecoins' future, predicting a return to their heyday.

Three Coins That Dampened the Memecoin Frenzy

Ong attributes the decline in memecoin enthusiasm to failed launches and "rug pulls," significantly impacting investor confidence. He specifically cites three coins – TRUMP, MELANIA, and LIBRA – as particularly impactful:

"The launches of TRUMP and MELANIA marked the peak for memecoins, absorbing liquidity and attention from other cryptocurrencies. However, if those two weren't enough to end the craze, LIBRA was the final blow, shattering the illusion of fair launches and exposing the insider manipulation that profits at the expense of most investors."

DOGE, SHIB, and BONK: A Testament to Resilience

Ong acknowledges the inherently cyclical nature of memecoins, but believes some will endure. While predicting the demise of most memecoins, he highlights Dogecoin (DOGE), SHIB, and BONK as examples of resilience:

"The most popular memecoins, like Dogecoin (DOGE), SHIB, and BONK, have successfully navigated market fluctuations. They've provided valuable lessons for future memecoin creators aiming for long-term success. The most successful memecoins build highly engaged, loyal communities capable of organic content creation and storytelling."

*This is not investment advice.