Meme Coins Ended with TRUMP and Argentina: But Those of This Kind Will Revive Again! - Coin Bulletin

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The latest analysis released by CoinGecko revealed that the meme coin craze is currently over, but it could revive again in the future.

Last month, meme coins named TRUMP and MELANIA, launched with the names of US President Donald Trump and his wife Melania Trump, unexpectedly brought an end to the meme coin frenzy. According to the data released by CoinGecko, the transaction volumes of other coins in the market significantly decreased with the emergence of these two coins. However, the real blow came with the massive scandal associated with the LIBRA coin linked to Argentine President Javier Milei.

The Impact of the 'Libragate' Scandal

Hours after the release of LIBRA, it was revealed that the project owners made over $107 million in profits through insider sales. Following this incident, the token's value plummeted by 94% in just a few hours. According to CoinGecko data, there has been a significant loss of trust in the overall meme coin market after the scandal. Pump.fun data shows that the number of newly released meme coins and successful projects has decreased by over 90%.

Bobby Ong, an expert at CoinGecko, stated that meme coins are currently completely over, but emphasized that the sector could revive in the long term. According to Ong, although 99.99% of meme coins fail, a few high-quality examples like DOGE, SHIB, and BONK have managed to stay in the market with strong communities. He believes that projects of this kind will survive in the future and the new wave of meme coins will rise through strong projects.

MEME4.75%
TRUMP1.16%
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