The total market value of Meme coins fell back to its level in November last year! SOL falls 40% hard in the past month

Recent reports from IntoTheBlock show that after the Meme currency market experienced several months of sluggishness, the total market value has fallen back to November 2024 levels, almost erasing all winter gains. The report released by the platform on X pointed out that this decline is in stark contrast to the brief surge in Meme currency after Trump won the US election at that time.

Solana Meme Coin Market Value Falls Below $10 Billion

Solana, as the main issuer of Meme coins, has been affected by the market downturn in the market, including early animal-themed coins (such as WIF, POPCAT, BOME) and later AI-themed coins (such as GOAT, ACT, ai16z), as well as the token issuance boom caused by the recent celebrity effect. CoinGecko data shows that the total market value of Solana Meme has fallen to about US$10 billion, with only 16 remaining with a market value of over 100 million. Many tokens retreated by more than 90% from their historical highs, among which ai16z and Fartcoin plummeted 47% and 49.6% respectively in one week.

SOL price plummeted 40% in one month

SOL prices have been under pressure recently, which may be related to the decline of the Meme coin craze and FTX will unlock up to 11.2 million SOLs (market value exceeds US$2 billion) on March 1. The SOL price fell to $160.89 at the morning of today, down more than 40% from the high of $286 on January 19, and rebounded to $168 before press time.

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