"Holders are nowhere to be seen"...Memecoin market share plunges to 2-year low

▲ Memecoin/ChatGPT generated image

As the memecoin frenzy rapidly cools, its market share has plummeted to a two-year low, as has the number of holders. Funds that once accounted for over 10% of the altcoin market are now clearly shifting towards artificial intelligence, real-world assets, and decentralized finance.

According to cryptocurrency media outlet BeInCrypto on July 6 (local time), the memecoin market share, based on CryptoQuant's aggregation, fell to 3.7%, marking its lowest point since February 2024. This is in stark contrast to November 2024, when it exceeded 10% of the altcoin market amid a trading frenzy following the US presidential election. Analyst Darkfost stated, "Memecoin holders are becoming increasingly rare."

While the combined market value of memecoins remained at approximately $28 billion, Real-World Asset (RWA) tokens surpassed $64 billion, more than doubling the gap. The market's main areas of interest are also shifting to Artificial Intelligence (AI), Real-World Assets, and Decentralized Finance (DeFi). Dogecoin (DOGE) maintained its position as the largest memecoin with a value of approximately $12.1 billion, accounting for nearly half of the total memecoin market value.

Long-term holders' losses also deepened. Murad Mahmudov, who advocated for a memecoin supercycle in 2024, had not sold his memecoin portfolio for over two years, but on-chain data tracked by Arkham showed his portfolio value had fallen by approximately 81% from its peak. His main holding, SPX6900 (SPX), dropped by about 67% over the past year, significantly below its July 2025 peak.

The decline in political memecoins was even steeper. Official Trump (TRUMP), launched ahead of the inauguration in January 2025, once approached $73 but subsequently plummeted by approximately 98%, leaving most buyers in a loss. BeInCrypto reported that while memecoin market share fell to similar levels in early 2024 and saw a strong rebound within months, a new memecoin season seems far off now, as there's no confirmed return of individual investors and funds are moving towards utility tokens.

[Article Key Summary]

- Memecoin market share fell to 3.7%, the lowest since February 2024.

- The number of memecoin holders has decreased to its lowest level in three years, and funds are moving to AI, RWA, and DeFi sectors.

- Murad Mahmudov's memecoin portfolio is down approximately 81% from its peak, and Official Trump is down approximately 98%.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*