Where Are the Memecoin Stars of Spring 2024 Now?

Back in March and April 2024, memecoin completely dominated the cryptocurrency space. Tiny tokens with silly names suddenly became popular and forced larger projects to race to make money. A year later, what has happened to the breakout stars of last spring's memecoin frenzy? Dogwifhat: From Dream Sphere to Harsh Reality Dogwifhat (WIF), known for its Shiba Inu mascot wearing a beanie, is one of the biggest winners of this craze. At one point, its price traded above $4 and it floated through the top 30 cryptocurrencies by market cap. There was even a campaign to plaster its mascot across the giant Las Vegas Sphere – a plan that not only drew attention but also brought in $700,000. Unfortunately, that performance never took place. Recently, the group admitted that they could not secure a venue and offered to refund the money. While that may save their reputation, it does not help the prices.

Today, WIF is only at $0.34 – down 93% from its all-time high in November. Currently, it is trading at the last price before it became popular. The hype is gone, and so are most of the gains. Floki: Hope in growth, not in charts Floki has been around longer — since 2021 — but was mostly forgotten until the memecoin wave brought it back. A year ago, it rebounded above $0.0002 and entered the top 60 tokens. Then it spiked again in June and November. But nowadays, it trades near $0.00005 and is hardly in the top 100. Most people no longer talk about it, although the developers are still building. There is a metaverse being developed, NFTs, a trading bot, and other impressive plans. Bonk: Still barking The story of BONK is different. It peaked with a market capitalization of over $1.5 billion during the memecoin bull run, and although it has declined since then, it still performs better than most.

That's right, its value has lost about half, but it is still in the top 70. Part of it may be due to BONK not coming naturally in 2024 – it has had some appeal. Overall, BONK is still in the game. Book of Meme: The Fastest Rise and Fall If there is a token that perfectly summarizes the speed of the memecoin craze, it is Book of Meme (BOME). It was launched on Solana in March, skyrocketing to 1 billion dollars in just a few days and peaking at 0.028 dollars. And then it collapsed. Currently, BOME is trading at around $0.001 – down over 96% from its peak. It has fallen out of the top 300 and has never recovered the initial hype. So, What Happened? The obvious answer is that the frenzy has cooled down. And memecoin will not perform well without the frenzy. We've seen this before. Memecoins often have a short attention span. People jump in, ride the waves, and move on to the next thing. But this time, a few different things are making the situation worse. Firstly, TRUMP – the new political coin has attracted a lot of attention and liquidity. For a while, it became the new memecoin star. But after both TRUMP and MELANIA collapsed, the sentiment around memecoins changed. There was also the LIBRA rugpull – another blow to investor confidence. And then there is the macro picture of tariffs, trade wars, and the increasing dominance of Bitcoin that has made cryptocurrencies much less interesting and much more serious. As the entire market becomes unstable, people stop throwing money into memes. That doesn't mean the memecoin is dead. It's just that the frenzy has passed – at least for now. We have seen many times that we should never write off memes. They always come back – just not always the old memes. ⚠️IMPORTANT! If you like this topic, don't forget: • Follow me @blogtienso for more interesting content! • Like, share, and leave a comment 💖 and don't forget to DYOR! #Write2Earn #Write&Earn $PEPE {spot}(PEPEUSDT)