- This shift from meme coins to BTC and altcoins now accounts for 44.2% of crypto-related social media activity, signaling a more stable and sustainable market.
- Celebrity-themed meme coins like MOTHER, DADDY, TRUMP, MELANIA, and JAILSTOOL have experienced significant declines, with some losing over 80% from their all-time highs.
As the crypto market experiences major volatility and turbulence, the excess froth is getting cleared as investors’ attention shifts from meme coins to Bitcoin and some of the top altcoins. Blockchain analytics firm Santiment shared a report showing the shift in crypto investors’ sentiment.
Bitcoin and Layer-1 Altcoins Dominate Social Attention
Blockchain analytics firm Santiment has observed a notable shift in the crypto community’s focus from meme coins to Bitcoin and Layer 1 blockchain assets such as Ethereum, Solana, Toncoin, and Cardano. Discussions about these leading Layer 1 networks now account for 44.2% of coin-specific social media activity, as reported previously.
In contrast, top meme coins like Dogecoin, Shiba Inu, and Pepe are experiencing a decline in attention, driven by recent market volatility and waning speculative interest, as highlighted in our previous news article.
This pivot marks a trend toward a more stable and sustainable market environment. Meme coins often thrive on speculative hype, viral trends, and short-term trading frenzies, which historically precede market corrections and signal phases of excessive greed. The decreased focus on meme coins suggests a cool-down period, encouraging a more balanced ecosystem.
On the other hand, the renewed interest in Bitcoin and some of the top Layer-1 altcoins highlight their foundational role in the crypto industry. These assets are valued for their robust security, innovation, and real-world adoption, with Layer 1 blockchains supporting smart contracts, decentralized applications, and scalability—critical drivers of long-term growth.
Fall of the Celebrity Meme Coins
This current shift toward the top crypto asset classes and altcoins hints at a healthier market cycle while reducing the risks of speculative betting. Thus, fundamentally strong projects are back in the limelight. Following Donald Trump’s oath-taking, meme coins flourished, especially with the launch of the TRUMP and MELANIA meme coins.
However, data from Messari shows that celebrity meme coins have dropped significantly. The analytics firm noted that five prominent celebrity-themed coins—MOTHER, DADDY, TRUMP, MELANIA, and JAILSTOOL—have experienced an average decline of 78% since reaching their all-time highs (ATH). Among them, TRUMP has dropped over 60%, while MELANIA has seen losses exceeding 80%. Notably, MOTHER and DADDY, which peaked in June-July 2024, have yet to recover, with both suffering declines of more than 80%.
Major celeb coins are down on average 78% from ATHs.
(h/t @Degenerate_DeFi) pic.twitter.com/SVX6E2UAto
— Messari (@MessariCrypto) February 10, 2025
Massive Movement for Bitcoin and Ethereum
In a recent Quicktake market update, Crypto Dan reported that 14,000 Bitcoins, which had remained dormant for seven to ten years, were moved on February 10. “Despite the large volume, these coins have not been transferred to any exchanges, suggesting that they are not intended for immediate sale,” said Crypto Dan.
On the other hand, over the past week, more than 1 million Ethereum (ETH) have been withdrawn from exchanges, indicating a rise in accumulation and a decrease in sell pressure, according to data from Santiment.
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