Are Memecoins Back?

Key Takeaways

• The meme coin sector has staged a selective comeback in 2025, driven by strong performers from 2024 rather than new entrants.
• Fartcoin and Solana-based tokens like WIF and BONK have led the charge, supported by community narratives and speculative appetite.
• Easing macro conditions, Bitcoin’s rising price, and renewed retail interest have created a favourable backdrop for riskier assets like meme coins.

The Crash of February 2025

Meme coins faced a notable downturn in February 2025. The sector, often seen as driven more by sentiment than fundamentals, experienced widespread losses. Many tokens dropped sharply in value, prompting renewed scepticism around their long-term viability.

The crash was part of a broader market correction that affected most digital assets. However meme coins were among the hardest hit during the downturn. Many lost up to 90% of their value during this period, with some collapsing entirely. While a handful have bounced back since, a large number of meme coins have continued to decline and are unlikely to recover. Their rapid drop serves as a reminder of the volatility that defines much of the crypto landscape.

Chart of total memecoins market cap. Highlightng a rebound from the April lows.

A More Focused Return

Meme coins are indeed back, but in a more focused and limited way. The recovery hasn’t been a broad sector-wide surge. Instead, it’s been driven by a smaller group of standout projects that have managed to outperform the wider market.

These meme coins are once again capturing attention across social media and crypto circles. They’re benefiting from renewed narrative momentum, strong community engagement, and in some cases, celebrity involvement. Although the scale is smaller than in past hype cycles, the enthusiasm surrounding specific tokens is very real.

What Coins Are Leading the Recovery?

Several coins have become more prominent during this period:

• TRUMP: A politically themed token that saw strong attention following Donald Trump's direct involvement in its launch. More recently, interest has grown again after the team announced that top holders would be eligible to attend an exclusive dinner event with Trump himself. This addition of “utility” has sparked debate around whether TRUMP could evolve into something more than just a meme.
  The Trump Meme coin official website announcing the opportunity to have dinner with President Trump
  
  
  
• Fartcoin: Emerging as a standout performer, Fartcoin has rallied over 600% since its lows in March 2025. Why has Fartcoin performed? It’s purely down to meme culture and humour. It has performed so well simply because the community has deemed it should.
• 2024 meme winners: Coins like Dogwifhat (WIF), Bonk (BONK), and Popcat (POPCAT) have recently performed well. These large meme coin communities have shown resilience, proving that brand and meme awareness continue to play a major role in driving attention and price action.

What’s Fuelled the Recovery?

Several factors have supported the recent revival of meme coin activity:

• Retail engagement returning: Meme coins continue to attract newer crypto users. As broader market conditions improved, interest in low-cost tokens and the potential for high returns continues to entice investors.
• Bitcoin price momentum: The rising price of Bitcoin has helped restore confidence that the current market cycle may still have legs. With renewed optimism, investors are more willing to take on risk—historically, a setting where meme coins tend to thrive.
• Macro conditions easing: Not even meme coins are exempt from global market dynamics. With major recoveries underway in US and international stock markets, and trade war concerns beginning to ease, overall investor sentiment has improved. In confident markets, riskier assets like meme coins tend to attract renewed attention.

Not All Meme Coins Are Back

While some meme coins have shown strong signs of recovery, it would be inaccurate to suggest the entire category is back in full force. The current rebound is primarily being led by a small group of tokens that gained popularity in 2024.

New meme coin launches have slowed considerably. This may reflect greater caution in the market following the January crash. Developers and communities alike seem more hesitant to jump into new projects without clear narratives or early support.

Meanwhile, major tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have yet to show meaningful signs of a return to their previous highs. They remain well-recognised and heavily held, but have not been central to the current wave of meme coin enthusiasm.

The official Pepe X account continues to post humorous memes capturing over 300 thousand views.

That said, their large communities and enduring visibility mean they could still play a role later in the cycle, especially if market sentiment shifts or renewed catalysts emerge.

Final Thoughts

Meme coins are once again making headlines, but this time the excitement is more focused. The broader market correction in January cleared out much of the noise, leaving behind a handful of resilient projects backed by active communities and strong narratives.

Solana continues to provide a thriving ecosystem for these assets, while growing confidence in the wider crypto market has encouraged traders to take on more speculative positions. Coins like Fartcoin have shown how meme culture alone can drive substantial price action, even without traditional fundamentals.

At the same time, many meme coins remain well below their previous highs, and the sector is still one of the most volatile in crypto. As with every cycle, the next wave of meme coin momentum will likely depend on market sentiment, cultural trends, and the stories that communities choose to amplify.