97% of Meme Coins Don’t Last a Year, Study Finds
Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...
Once dismissed as internet jokes, meme coins like Dogecoin (DOGE) and Pepe (PEPE) have exploded in popularity, propelling the sector to become the fourth most valuable in crypto. Yet, beneath the hype, lies a volatile and risky market.
A new report “State of Memecoin 2024” conducted by Chainplay, a hub for GameFi market data, paints a bleak picture of the current meme coin industry. The research, published on Aug. 13, analyzed over 30,000 meme coin projects across Ethereum (ETH), Solana (SOL), and Base.
The average lifespan of a meme coin is a mere year, compared to three years for other crypto projects. Moreover, 97% of all meme coins have already failed, with over 2,000 disappearing monthly. This high turnover rate reflects the speculative nature of these assets, as nearly 60% of investors view them as short-term bets.
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