@salvino
This chart is the first thing people pull up when they try to make the “memecoins = NFTs 2.0” comparison
But you can’t anchor an analysis of memecoins to a chart that conveniently begins right before 2024
The first major memecoin launched in 2013 ($DOGE)
And memecoins have shown up in every cycle since:
~ 2017/18 — DOGE + early meme experiments (MEME/PepeCoin, etc.)
~ 2020/21 — SHIB, Safemoon, Floki Inu
~ 2024/25 — SPX6900, PEPE, WIF, BONK, MOG, etc.
Memecoins are clearly a multi-cycle phenomenon
2 replies
0 recast
11 reactions