Odaily Odaily News: 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 fields, among which the Meme index has fallen particularly significantly, 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 Trump Coin, are facing heavy selling pressure, and speculative traders are exiting the market. The downward trend is not limited to Meme coins. Since the beginning of 2025, all GMCI sub-indices have shown a downward trend, but the decline varies. The AI ​​and GMCI30 indices are relatively resistant to declines, with smaller pullbacks, while the GMCI12 and DeFi indices have fallen more significantly. In addition, activity data from the Meme coin launch platform also shows a weakening of market interest. Taking Pump.fun as an example, its daily revenue has dropped below US$1 million, far lower than its previous peak level, indicating that the market's enthusiasm for new currency issuance has cooled significantly.