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Although most Altcoins rose after the news of Trump's return to the White House, meme coins struggled to keep up, sparking debate about their lack of long-term value. Considering the performance of other Altcoins, this argument may actually have some persuasive power.
However, the turnaround may not be too late - meme coins have already proven their resilience, thriving on community support and hype. The real question now is: can the same hype drive a change in momentum, or are we witnessing the beginning of the end of the appeal of meme coins?
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The largest memecoin may be losing its greatest asset
To truly understand the volatility of these tokens, Doge [DOGE] is a perfect example. While many still associate DOGE with high-profile endorsements, it may be losing its most powerful asset - the support it once had.
Even if government agencies name a dog coin, how will it affect the price? It has never really taken off. In fact, the $1 price target seems increasingly out of reach.
Will this be a turning point for DOGE? Will the community move away from hype and develop into a more meaningful group - one with a long-term vision?
At the moment, the answer seems to be a resounding "no". A quick glance at its price chart makes it clear - it still has a high speculative nature. A single red candle can wipe out the gains of a series of green candles.
As the largest memecoin, its market cap is even larger than the total market cap of other meme tokens, so it's hard to see memecoins overtaking Altcoins in the short term.
These currencies are easy targets for market manipulation
AMBCrypto's recent report revealed how major players are using massive bets to keep DOGE trapped in a consolidation phase and using classic manipulation strategies to prevent any breakouts.
This brings us to a key point: like DOGE, memecoins are heavily dependent on community support to thrive - but ironically, it is this dependence that leads to their violent price swings.
Take PEPE as an example, with a market cap of $9 billion, nearly "half" of the tokens are controlled by whale wallets, accounting for about 190 trillion tokens. These whales have the power to manipulate the market at will, pushing it in a direction that benefits them.
Even more shocking is the scale of their trades - whether buying or selling - often reaching billions or even trillions of dollars.
This textbook manipulation strategy of buying at a discount and selling at a high price has plunged memecoins into a turbulent cycle, leaving the market in a state of persistent uncertainty and retail investors on edge.
Considering all of this, predicting that these currencies will set new highs next year may be a bit wishful thinking.
The reason is clear: in addition to losing the appeal of being "real use case" assets, memecoins are also facing challenges on multiple fronts.
Big players manipulating the market, stifling their true potential, and their failure to develop into true stores of value have opened the door for Altcoins to dominate.
