Odaily reports that most meme coins have seen a decline after entering 2025, and controversies and scandals surrounding certain coins have had a negative impact on the entire cryptocurrency market. The market capitalization of meme coins reached a peak of $137 billion on December 8 last year, but has since fallen 59% to around $56.2 billion (currently rebounding slightly by 1.4% to around $64.25 billion). Alice Liu, head of research at CoinMarketCap, pointed out that "the decline of meme coins is due to people's fatigue, as they feel the game has been manipulated, and the original idea of meme coins was a fair launch: everyone had a chance to participate... even if you didn't have crypto resources or inside information, you could still get 10x or even 100x opportunities, but now this is becoming increasingly rare." (morningstar)