Data: Meme Coin Market Pulls Back Sharply, GMCI Meme Index Drops 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 several crypto sectors, with the Meme index falling particularly significantly, from a peak of about 550% in December 2024 to 80% in March, a drop of 90%. The major components of the index, including Shiba Inu, Dogecoin, Pepe, and Trumpcoin, are facing significant selling pressure, and speculative traders are exiting the market.
The downtrend is not limited to Meme. Since the beginning of 2025, all GMCI sub-indices have shown a downward trend, but with varying declines. The AI and GMCI30 indices have been relatively resilient, with smaller pullbacks, while the GMCI12 and DeFi indices have fallen more significantly.
In addition, the activity data of the Meme coin launch platform also shows a weakening of market interest. In the case of Pump.fun, its daily revenue has fallen below $1 million, well below the previous peak level, indicating that the market enthusiasm for new coin issuance has cooled significantly.