The memecoin market has significantly declined since its peak, erasing all gains made following the November 2024 presidential election. Since December, its value has plummeted by over half.

According to CoinMarketCap, the total memecoin market capitalization was $54 billion on March 5th, a 56% decrease from $124 billion on December 5th, 2024. The market peaked at $137 billion on December 8th, experiencing brief fluctuations following memecoin launches by Donald and Melania Trump in January.

根据CoinMarketCap的数据，3月5日的Memecoin市值为540亿美元，比2024年12月5日的1,240亿美元下降了56％。12月8日，该市场在1月8日的Memecoin推出后，唐纳德（Donald）和梅拉尼亚（Melania）在1月在1月的Memecoin推出后的短暂波动达到了1370亿美元的峰值。

Total memecoin market capitalization in the past year. Source: CoinMarketCap

Industry experts attribute this substantial downturn to several factors: volatile global economic conditions, a lack of memecoin regulation, insider trading scandals, and endorsements from public figures.

行业专家将这种大量的低迷归因于几个因素：全球经济状况，缺乏成员监管，内幕交易丑闻以及公众人物的认可。

Market Consolidation Expected

市场整合预期

Zeta Markets co-founder Anmol Singh told Cointelegraph that the "memecoin bubble has burst," citing economic uncertainty surrounding the Trump administration's policies as a key contributor. Singh also highlighted the problematic influence of celebrities and social media influencers who allegedly manipulate token prices for personal profit:

Zeta Markets联合创始人Anmol Singh告诉Cointelegraph，“ Memecoin Bubble已经破裂”，理由是特朗普政府政策是主要贡献者的经济不确定性。 辛格还强调了名人和社交媒体影响者的问题影响，据称是为了个人利润操纵代币的价格：

“Celebrities, key opinion leaders, and insiders are blatantly exploiting their influence to inflate token prices before selling, eroding trust among retail investors.”

“名人，主要意见领导者和内部人士正公然利用其影响力，以使代币价格膨胀，在出售之前，侵蚀了零售投资者之间的信任。”

Singh predicts market consolidation, with major memecoins surviving while others lose relevance.

辛格（Singh）预测市场巩固，主要的模因存活下来，而其他人则失去了相关性。

Dogecoin Dominates

多霉素占主导地位

Singh identifies Dogecoin (DOGE), Pepe (PEPE), Bonk (BONK), Dogwifhat (WIF), and the Official Trump (TRUMP) memecoin as major players. He suggests that remaining memecoin capital will likely flow into perpetual futures, spot crypto investments, and fiat assets.

辛格将Dogecoin（Doge），Pepe（Pepe），Bonk（Bonk），Dogwifhat（Wif）和官方特朗普（特朗普）Memecoin视为主要参与者。 他建议，剩余的Memecoin Capital可能会流入永久的未来，现货加密投资和菲亚特资产。

The top seven memecoins by market capitalization as of March 5. Source: CoinMarketCap

截至3月5日的市值七个成人。来源：CoinMarketCap

Singh anticipates increased investor caution regarding new memecoin launches.

辛格预计，投资者对新的Memecoin发射的谨慎态度有所增加。

At the time of writing, Dogecoin—favored by Trump's senior advisor Elon Musk—holds the largest market share at 53%, according to CoinMarketCap. SHIB and PEPE follow, with market caps of $7.7 billion and $2.9 billion respectively. The Official Trump memecoin ranks fourth, with a $2.6 billion market cap.

根据CoinMarketCap的数据，在撰写本文时，由特朗普的高级顾问埃隆·马斯克（Elon Musk）占有的Dogecoin持有最大的市场份额，为53％。 Shib和Pepe紧随其后，市值分别为77亿美元和29亿美元。特朗普官方的成员排名第四，市值为26亿美元。

While figures like Tron founder Justin Sun see memecoins as the crypto future, they advise focusing on established options like DOGE.

尽管Tron创始人Justin Sun等人物将Memecoin视为加密货币的未来，但他们建议专注于Doge等既定选择。