Memecoins Will Rise From The Dead, But In A New Form: Crypto Exec

Memecoins were never about memes, jokes, or financial nihilism; it is the underlying technology and its implications that are promising.

Memecoins are not dead because the market is down and the narrative has faded, according to president of payment infrastructure company MoonPay, Keith A. Grossman, who said that memecoins will be back but in a different form.

The real innovation of memecoins is that attention can be tokenized easily and at low costs through blockchain technology, democratizing access to the attention economy, Grossman said. He continued:

However, that value did not flow back to participants and mostly remained trapped by large, centralized platforms, he added.

Grossman compared the dismal memecoin outlook among analysts to forecasts of the demise of social media after the first generation of social platforms failed in the early 2000s, before the rise of a latter cohort of companies that turned the niche sector into a cultural phenomenon.

Memecoins were one of the best-performing crypto asset sectors in 2024 and were the top narrative that year among crypto investors, according to crypto market data platform CoinGecko.

However, sharp criticisms that memecoins and other social tokens have no value and several high-profile token implosions eventually caused the market to crater and investors to move on from the narrative.

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The memecoin market collapsed in Q1 2025 following several high-profile token collapses and significant drawdowns that were characterized as “rug pulls.”

United States President Donald Trump launched a memecoin ahead of the January 2025 inauguration, which reached a peak of $75 before collapsing by over 90% to about $5.42 at the time of this writing, according to CoinMarketCap.

Source: CoinTelegraph