Memecoins Are Not Dead Despite Market Decline, Says MoonPay President

Summary:

Memecoins, though currently facing a market downturn, are expected to return in a revised form, according to Keith A. Grossman, president of payment infrastructure company MoonPay. Grossman emphasizes that the true innovation of memecoins lies in their ability to tokenize attention at low costs through blockchain technology, democratizing access to the attention economy. Historically, memecoins were among the top-performing crypto assets in 2024, but high-profile collapses and criticisms led to their decline. Despite this, Grossman draws parallels to the early failures of social media platforms, suggesting memecoins could experience a similar resurgence.

What This Means for You:

• Reevaluate Memecoin Investments: While memecoins are currently underperforming, their underlying technology suggests potential for future innovation.
• Diversify Your Portfolio: Avoid overexposure to memecoins by balancing investments with more stable crypto assets.
• Stay Informed: Monitor developments in tokenization and blockchain technology to identify emerging opportunities.
• Exercise Caution: Be wary of high-profile endorsements and potential “rug pulls” in the memecoin space.

Original Post:

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:

“Before crypto, attention could only be monetized by platforms, brands and a small group of influencers. Everyone else generated value and gave it away for free. Likes, trends, inside jokes and communities created massive economic value.”

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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Presidential antics and the downfall of the memecoin sector

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.

Javier Milei, the president of Argentina, endorsed a social token called Libra in February, which also crashed, leaving 86% of LIBRA holders with realized losses of $1,000 or more. 

The token had reached a market cap of $107 million before its collapse and was characterized as a rug pull by the crypto community.

Although Milei attempted to distance himself from the token launch, a government probe was launched into Milei’s involvement, which culminated in lawsuits from retail investors and calls for impeachment from Argentine lawmakers.

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Extra Information:

Learn about the tokenization of attention and how memecoins are democratizing access to the attention economy. Explore the decline of the memecoin sector through CoinMarketCap’s detailed analysis.

People Also Ask About:

• Are memecoins a good investment? While they can be profitable, memecoins are highly volatile and risky.
• What is tokenization? Tokenization refers to the process of converting assets or attention into digital tokens on a blockchain.
• Why did memecoins decline in 2025? High-profile collapses and criticisms led to a loss of investor confidence.
• Can memecoins make a comeback? Experts like Keith Grossman believe they will return in a different form.

Expert Opinion:

“Memecoins represent a fundamental shift in how attention is monetized,” says Keith A. Grossman. “While the current market is bleak, the underlying technology and potential for democratizing value creation suggest a promising future.”

Key Terms:

• memecoin resurgence
• tokenization of attention
• blockchain democratization
• crypto asset diversification
• rug pull warnings

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