Memecoin Rally fades, but the GMCI memes index still exceeds BTC and Eth

GMCI data suggests that the meme coin rally has cooled, although Meme's coins still have a strong lead on bitcoin and ethereum.

The GMCI Meme Indexwhich tracks the main meme coins for market capitalization, has decreased by approximately 60% from its December maximum. Despite this decrease, GMCI Meme (730 points) still maintains a strong advantage over bitcoin (btc), currently sitting at 451 points, and ethereum (eth) in 199 points. The GMCI 30 index, which represents a selection of the 30 main cryptographic assets, is in 287.

The GMCI meme index began its rapid rise in the late 2023, reaching a maximum of 1,000 points in 2024. This increase left bitcoin and ethereum by a significant margin, reflecting that the meme of impulse meme had won during the year . He <a target="_blank" href="https://www.coingecko.com/research/publications/most-popular-crypto-narratives” target=”_blank” rel=”nofollow”>December 2024 Coingcko Report He revealed that Memes coins captured almost 15% of the general interest of investors, a 6% jump compared to the previous year. Besides, Analysis of the whole year of Binance reinforced the mastery of Memes coins in 2024, informing an annual gain of 212% for the subsector. This increase was largely driven by the popularity of Pump.fun, a meme coin launchpad that saw more than 5.7 million new projects launched and generated more than $ 400 million in revenues throughout the year.

Reflecting the decrease in the GMCI Meme, market analysts have begun to comment on the cooling of the meme coins sector. In a recent one <a target="_blank" rel="nofollow" href="https://x.com/ki_young_ju/status/1883467425011896336″ target=”_blank”>Publish in xKi Young Ju, CEO of Cryptoquant, said that while the exaggeration of memes coins will fade and the market will evolve towards a more sustainable market by 2030.

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This perspective is aligned with the vision of the broader industry that the meme coins narrative can be at its maximum point, giving way to the prominence of agents. Haseb Qureshi, managing partner of Dragonfly Capital, <a target="_blank" rel="nofollow" href="https://x.com/hosseeb/status/1874288532686295058″ target=”_blank”>shared in x It is likely that these memes currencies lose market share due to agents.

However, the fact that Meme currencies have still surpassed btc and eth, according to the The GMCI Meme IndexHe suggests that Memes's currency narrative is still strong, at least for now.