2026-01-01 13:22:18

Last winter, the meme coin craze was extremely hot, with even political figures from various countries jumping in. One well-known token plummeted 93% from its peak, and the total market cap of the entire meme coin sector dropped from over $150.6 billion more than a year ago to less than $42 billion now.

How serious is the situation? A token that was briefly endorsed by politicians, $LIBRA, has fallen 99% from its all-time high, prompting investors to file lawsuits. The coin issued by a top influencer on X now has shrunk by nearly 90%, with a daily trading volume of only a few hundred to over a thousand dollars, effectively turning into a zombie coin.

Non-political projects haven't fared much better. The Shiba Inu coin Dogwifhat, which wore a pink knit hat, has already plunged 94% since its high in March 2024. Meme coins like Bonk, Fartcoin, and Pepe have all fallen more than 85% since reaching new highs at the end of last year or early this year. In short, the entire sector has become a wasteland.

Actually, this is not surprising. Meme coins have no real economic fundamentals—they are just hype around celebrities or internet memes, maintained by emotion and popularity. Industry professionals in crypto have long regarded them as embarrassing fringe products.

What’s even more painful is the issue of scams. "Pulling the rug" schemes are rampant: project teams sell off at the top and leave investors with nothing. Data agencies announced this month that scams were everywhere during last year's meme coin frenzy. This crash is not only a bubble burst but also a concentrated outbreak of risks.

WIF8.94%

BONK8.96%

FARTCOIN6.64%

PEPE21.58%

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BlockchainBrokenPromise

· 11h ago

Same old story, celebrity effect + emotional hype. Go ahead and smash it if you want; anyway, the retail investors will be the ones to get cut sooner or later.

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ImpermanentPhilosopher

· 11h ago

The end of meme coins, it was long overdue. I’ve always wondered how people still went all-in on these trash projects back then. Now they’re completely wiped out, serves them right. --- So many rug pulls and scams, and people still play? I really don’t understand. How can you go all-in on something with no fundamentals at all? --- Dogwifhat dropped from 94% to now, it pains me to watch. This is the fate of dying without a story backing it. --- 99% decline, haha, this is the real textbook of "permanent loss." --- The entire meme coin sector is just a big money-grabbing machine. I’ve long stayed away from it. --- Coins endorsed by politicians tend to crash the hardest. Isn’t that ironic? --- Trading volume is only a few hundred dollars a day. This isn’t even a coin anymore, it’s an antique. --- I didn’t touch that wave last winter. Watching others go all-in like they’re sleepwalking, now it’s just a relic of the past. --- Rug pulls have become routine. This circle really needs a cleanup. Retail investors are suffering too much. --- Honestly, without fundamentals, you deserve to die. It’s only your greed to blame.

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TokenUnlocker

· 11h ago

Oh my god, this wave of meme coins has really died out completely. Politicians take the profits and run, retail investors become the big losers. The carpet-pulling scams are so rampant, no wonder no one trusts anymore. Those who suffered heavy losses should wake up. Looking at DWH, which has dropped 94%, it's purely a game of musical chairs—without fundamentals, it won't last long. Fortunately, I didn't get in. Seeing this ruins, it's better to honestly hold onto Bitcoin and Ethereum; they are more reliable. Meme coin season comes and goes, and in the end, those who understand technology always win. Retail investors can forget about it. This crash was so severe, who dares to try again next time? Just pass. LIBRA dropped directly to 99%. I really want to see how those lawsuits are settled, haha.

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TopBuyerBottomSeller

· 11h ago

Well... a 99% decline is still under litigation. This is disastrous. It's all because I didn't run away in time back then. Now it's all zombie coins. The rug pull was already hard to prevent, retail investors are just the bagholders. Meme coin speculation completely relies on emotions, with no fundamentals at all. Why didn't I see it clearly earlier? A year ago, it was full of inexperienced investors.

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ProofOfNothing

· 11h ago

It's the same old story, who made everyone chase the hot trend? --- DWH dropped 94% from its peak? Laughable, it was obvious all along --- The rug pull thing is really unpredictable; retail investors are just like leeks --- The meme coin no fundamentals talk has been everywhere for a long time, and people still throw money into it—truly unbelievable --- A 99% decline, investors suing is useless, it's high time to face reality --- This is called market education; losing money is the tuition fee for greed --- Celebrity coins, influencer coins, each more outrageous than the last, I don't even bother looking --- Bonk dropped over 85%? Is anyone still holding or did they cut losses early? --- Honestly, this round of collapse might be good for the entire sector --- A bunch of zombie coins, liquidity has long dried up, can't even get a market now

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SmartContractWorker

· 11h ago

Damn, is this the ending of last winter's wave? It turned into a zombie coin... Another round of a leek-cutting feast, do retail investors really dare to believe it? Meme coins are basically gambling; without fundamentals, how can they be stable... A 99% drop, how desperate does that make you? But then again, who told you to go all in on a meme coin? The hardest hit in this round of slaughter were those newbies who were fooled by big V influencers. They deserve it. The entire sector is rotten, and there are still people bottom-fishing? I wouldn't dare. With so many rug pull scams, it shows the market is completely unregulated—it's a lawless zone.

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