Memecoin Launches Drop as Speculative Interest Fades

The Most Important Points at a Glance
The number of new memecoin token launches has fallen back to the level of September 2024. The decision by the U.S. Securities and Exchange Commission (SEC) not to classify memecoins as securities has changed the speculative dynamics of the market. Investors are increasingly turning to blockchain projects with real utility. The question remains whether this marks the end of the speculative memecoin wave or just a temporary pause.
Decline in Token Launches on PumpFun
The PumpFun platform recorded a peak of over 50,000 new token launches per day in December 2024. Since then, activity has dropped drastically and is now at the level of September 2024.
This decline indicates waning interest in speculative memecoins. The SEC’s clarification has removed regulatory uncertainties, reducing the speculative appeal of these tokens. At the same time, the high number of previous launches may have led to market saturation, making traders more cautious.
Has Memecoin Speculation Lost Its Appeal?
The SEC’s decision not to classify memecoins as securities was initially seen as a benefit for the market. However, paradoxically, this clarity has removed a key driver of speculation: uncertainty.
Previously, traders speculated on potential regulations and took advantage of the associated volatility. Now that there are no immediate legal risks, memecoins lack speculative appeal. The SEC’s classification of memecoins as digital collectibles—similar to NFTs—could further diminish their attractiveness.
Additionally, declining liquidity and fewer new token launches are reinforcing the market cooldown. Without new momentum, the speculative phase of memecoins may be coming to an end for now.
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From Speculation to Sustainable Development
The key question is: Is the market evolving, or is this just a pause before the next wave of speculation?
For short-term traders, this shift poses a challenge. The focus is shifting toward blockchain projects with real utility. In particular, the tokenization of real-world assets (RWA) is gaining importance and could reach a market volume of over $50 billion by 2025.
Institutional investors are showing increasing interest. For example, the UK’s NEST pension fund has invested five billion pounds in private markets, while State Street has launched a private credit ETF. These developments indicate a market shift—away from speculative memecoins and toward blockchain applications with long-term potential.
Our Assessment
Recent developments indicate a clear shift in the crypto market. The speculative wave surrounding memecoins is losing momentum, while investors are increasingly favoring projects with real utility. Whether this is the definitive end of the memecoin hype or just a temporary cooldown remains to be seen.
In the long run, the market is likely to become more professional, with a stronger focus on sustainable blockchain applications. Those who prefer short-term speculation may need to rethink their strategies.