According to the analysis platform BestBrokers Report: Although the overall cryptocurrency market cap remained above $3 trillion and briefly touched $4 trillion, memecoins suffered a major setback in 2025. The total market cap of memecoins plummeted from $93.1 billion in January 2025 to $36.5 billion in January 2026, a drop of approximately 61%. Trading volume fell sharply from a peak of nearly $20 billion in mid-2025 to under $3 billion by December, and has since slightly recovered to $3.4 billion. Over 13 million memecoins were launched in 2025, but most failed to retain value. The market is highly concentrated, with Dogecoin and Shiba Inu together accounting for 84% of the total memecoin market cap. The Solana-based launchpad Pumpfun saw a 66% decline in daily active wallet registrations.
Source: https://www.bestbrokers.com/crypto-brokers/the-heat-death-of-memecoins/