Data: Meme coin market fell sharply, GMCI Meme Index fell 90%

The meme coin craze that dominated the crypto market in 2024 has cooled significantly. According to the GMCI index chart, there has been a general decline in multiple crypto sectors, with the Meme index falling particularly sharply, from a peak of about 550% in December 2024 to 80% in March, a drop of 90%. The main component currencies in the index, including Shiba Inu, Dogecoin, Pepe and Trumpcoin, are facing heavy selling pressure, and speculative traders are exiting the market. The downward trend is not limited to meme coins. All GMCI sub-indices have been trending downward since the beginning of 2025, but the extent of the decline varies. The AI ​​and GMCI30 indices were relatively resilient and experienced smaller pullbacks, while the GMCI12 and DeFi indices fell more significantly. Additionally, activity data from the Meme Coin launch platform also showed a waning of market interest. Taking Pump.fun as an example, its daily revenue has dropped below US$1 million, far lower than its previous peak, indicating that the market's enthusiasm for new coin issuance has cooled significantly.