A recent analysis has revealed that the majority of memecoins, specifically 1,500 promotions, are now worthless, with 10% experiencing a crash of over 90%. Furthermore, only 1% of these coins have seen a significant rally of 10 times their initial endorsement. This poor performance is surprising given the bullish crypto market that has gained over $1 trillion in market capitalization in the last 30 days. Coinwire's research aligns with Protos' previous analysis, which found that 99.99% of the 1.7 million meme coins launched on Solana's Pump Fun failed to sustain a market capitalization of $1 million. Interestingly, the analysis also revealed that larger influencers tended to achieve worse results than those with smaller followings. It is evident that many individuals have suffered significant losses from trading memecoins, with some admitting to losing life savings and going into credit card debt.



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