Memecoin市场崩溃了。发生了什么？

自从唐纳德·特朗普（Donald Trump）上任以来，成人的市场价值460亿美元。

The memecoin market, once red-hot, is now showing deep signs of decline.

曾经是红色炙手可热的成员市场，现在正在显示出下降的深刻迹象。

Since Donald Trump took office, memecoins have haemorrhaged $46 billion in market value — instead of rallying.

自从唐纳德·特朗普（Donald Trump）上任以来，Memecoins的市场价值460亿美元，而不是集会。

The collapse coincides with the First Family's decision to launch both a Trump and a Melania memecoin amid the publicity of their return to the White House.

崩溃恰逢第一个家庭决定在宣传他们返回白宫的情况下决定发起特朗普和梅拉尼亚·梅克币。

“During the inauguration, Trump and Melania dominated the market, accounting for 67.8% of the total memecoin trading volume,” Illia Otychenko, lead analyst at crypto exchange CEX.io, told DL News.

Crypto Exchange Cex.io的首席分析师Illia Otychenko告诉DL News：“在就职典礼期间，特朗普和梅拉尼亚在市场上占主导地位，占成员总交易量的67.8％。”

“Their surge was partially fuelled by capital rotation from other memecoins like Doge and Pepe.”

“他们的激增部分是由于其他成人（如门卫和佩佩）的资本旋转所激发的。”

While instantly popular, their fame was short-lived as early investors cashed out millions leaving later buyers with significant losses.

虽然立即受欢迎，但他们的名声是短暂的，因为早期投资者兑现了数百万美元，而后来的买家却遭受了巨大的损失。

The Trump memecoin is now down 75% from its peak, wiping out $11 billion in the process. Melania's token has declined even further, with a 90% slump from its all-time high.

特朗普纪念因现已比其顶峰下降了75％，在此过程中消耗了110亿美元。梅拉尼亚（Melania）的代币进一步下降了，其历史最高水平下降了90％。

Even freshly created tokens from memecoin generators like pump.fun are failing to garner hyped interest from investors.

即使是来自pump.fun等成员发电机的新鲜令牌，也无法从投资者那里获得兴趣。

Memecoins have only declined since Trump's inauguration. Photo: CoinMarketCap.

自从特朗普就职以来，纪念物只有下降。照片：CoinMarketCap。

On Thursday, data reviewed by DL News showed that only three tokens that graduated on pump.fun, by reaching the $89,000 market value threshold, managed to go on and rise to $1 million in market value — compared to scores of memecoins that attained this milestone only a few weeks ago.

周四，DL News审查的数据显示，只有三个毕业于Pump.Fun的令牌，即达到89,000美元的市场价值门槛，设法继续持续并提高到100万美元的市场价值 - 与获得这一里程碑的数十位成员相比仅几周前。

Memecoin trading activity has also slumped with the sector's volume down 20% in the last month.

Memecoin贸易活动也因该行业的数量在上个月下降了20％而下降。

While the memecoin downturn is part of the broader crypto market slump, analysts cite the oversaturation of meme tokens as a contributing factor to the decline.

虽然Memecoin的衰退是更广泛的加密货币市场低迷的一部分，但分析师认为Meme令牌的过度饱和是导致下降的因素。

“The market is recalibrating [and] we are seeing a vibe shift that feels a lot like 2020 and 2021, with technically innovating projects dominating conversations,” Alvin Kan, chief operating officer of Bitget Wallet, told DL News.

Bitget Wallet的首席运营官Alvin Kan告诉DL News：“市场正在重新校准，我们看到的氛围变化很像2020年和2021年，技术创新的项目主导着对话。”

Despite the market rout, the pace of memecoin creation remains relentless.

尽管有市场溃败，但Memecoin创建的速度仍然不懈。

Pump.fun alone accounts for 50,000 new meme token launches each day, according to data from Dune.

根据Dune的数据，仅泵。

But still, market observers say memecoins are far from done.

但是，市场观察家说，模因远非完成。

Kan says that memecoins could experience a short-term bounce this month but a more sustained rally is likely to coincide with the next crypto bull cycle later this year or in 2026.

Kan说，Memecoins本月可能会经历短期反弹，但更持续的集会很可能与今年晚些时候或2026年的下一个加密公牛周期相吻合。

But memecoins are often triggered by broader market trends. Memecoins, like the rest of the market, are waiting on the sector's leader, Bitcoin, said Otychenko.

但是，纪念物通常是由更广泛的市场趋势触发的。 Otychenko说，与市场其他地区一样，Memecoins正在等待该行业的领导者比特币。

Bitcoin traded at $98,000 on Friday and is down 10% from its all-time high of $108,786 on January 20, Trump’s inauguration day.

比特币周五的交易价格为98,000美元，比特朗普就职日（Trump ookation Day）1月20日的历史最高点下降了10％。

Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@dlnews.com

Osato Avan-Nomayo是我们尼日利亚的Defi通讯员。他涵盖了Defi和Tech。有小费吗？请通过osato@dlnews.com与他联系