DATA: Meme Coin Market Pulls Back Sharply as GMCI Meme Index Falls 90%

The Meme Coin boom that dominated the crypto market in 2024 has cooled significantly. According to the GMCI Index charts, there have been widespread declines across several crypto sectors, with the Meme Index seeing a particularly significant drop, falling 90% from a peak of around 550% in December 2024 to 80% in March, with key constituent coins in the index, including Shiba Inu, Dogecoin, Pepe, and Trumpcoin, all facing significant selling pressure as 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 been trending downwards, but with varying degrees of decline. the AI and GMCI30 indices have been relatively resistant to the downtrend, with smaller pullbacks, while the GMCI12 and DeFi indices have declined more significantly. Additionally, activity data from Meme Coin Launch platforms showed waning market interest. Pump.fun, for example, has seen its daily revenue fall below $1 million, well below the level it reached at its previous peak, suggesting that the market's enthusiasm for new coin launches has cooled significantly.