Data: Meme Coins Have Lost Nearly 82% of Their Value Since 2024

Meme coins have been on a bad run since they peaked in 2024, with data from CryptoRank showing they’ve collectively lost more than $110 billion from then to now.

According to the data, this year alone, the sector has dipped 31%, taking its combined value to around $24.5 billion, with repeated attempts at recovery barely holding.

Meme Coin Market Struggles to Recover From 2024 Peak

At its height in 2024, the joke token market stood at $135 billion, but what came after that was a lengthy unwind that no single bounce has been able to really make any dent on, resulting in meme coin traders giving back the vast majority of gains they had accumulated since then. This was confirmed by CryptoRank analysts, who wrote in a post on X:

Dogecoin (DOGE) is still the biggest player in the space, with a market cap of around $13.7 billion that also puts it just outside the top ten in the broader crypto market. However, per information from CryptoRank, it has fallen 20.5% in the last 30 days alone, with the second largest, Shiba Inu (SHIB), down almost 14% to take its overall value to about $3 billion. The other big name here is PEPE, worth approximately $1.25 billion all told, after slumping by over 21% in one month and 74% in 12.

Further down the list, coins like Bonk, Fartcoin, and dogwifhat (WIF) have lost between 15% and 30% across four weeks, while Official Trump (TRUMP) is in the red by 12.2% and was trading below $2 at the time of writing. Among them, the one that has lost the least in one year is Bonk at 69%, and the worst hit is Fartcoin at just over 89%, although it has had one of the better 24 hours, gaining nearly 5% since yesterday.

However, the story isn’t the same everywhere, as some meme tokens, like Kintara (KINS) and the so-called Original Doge (OGDOGE), have skyrocketed by 2,664% and 1,765%, respectively, over 30 days, although they are both way smaller than the sector’s leading names, with their combined market caps barely scratching $20 million.

Dogecoin Is the Meme Coin Bellweather

Of the $24.5 billion that CryptoRank says the meme coin sector is currently valued at, DOGE’s $13.7 billion accounts for over half of that. And even though it’s lost over 50% of its price from one year ago, per CoinGecko data, that has not stopped some analysts from making a case for it.

According to Alphractal, the king meme coin has been trading near a level that has historically been followed by big price gains, with the crypto market intelligence provider saying the current market mood is unusually pessimistic:

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