Crypto market turbulence decimated memecoins specifically final yr, driving the variety of crypto challenge failures to over 11.6 million in 2025, the very best degree recorded for a single yr.
The fourth quarter of 2025 was among the many worst, with 7.7 million tokens listed on GeckoTerminal ceasing energetic buying and selling through the interval, in accordance with a report by CoinGecko analysis analyst Shaun Paul Lee launched on Friday.
Lee mentioned the Oct. 10 market crash, which noticed over $19 billion of crypto leverage liquidated in a day, was a key catalyst.
“This sharp decline in token survivability could also be linked to the broader market turbulence all year long, which significantly affected the memecoin sector,” he added.
The variety of failures had skyrocketed from earlier years, in accordance with Lee. Over 1.3 million tasks listed on GeckoTerminal failed in 2024, whereas solely 2,584 failed in 2021.
Memecoins are among the many riskiest bets in crypto, and their success or failure will be a sign of how a lot danger traders are keen to take.
Memecoin launch pads flood the market with ‘low effort’ cash
Another excuse for the excessive degree of token failures may be the sheer quantity of cash created in 2025 in comparison with different years.
GeckoTerminal exhibits there have been 3 million tokens listed on the finish of 2024, however 20 million by the tip of 2025.
Lee factors to the launch of Solana memecoin launchpad pump.enjoyable in January 2024 as a driving pressure behind the flood of recent tasks.
“The convenience of launching tokens on launchpads has led to a surge in low-effort meme cash and tasks getting into the market,” he mentioned.
“Earlier than the launch of pump.enjoyable in 2024, cryptocurrency failures numbered within the low six digits. Challenge failures between 2021 and 2023 made up simply 3.4% of all cryptocurrency failures over the previous 5 years.”
Memecoin market cap roars into 2026
Memecoins noticed a robust begin to the yr as market capitalization surged from $38 billion on Dec. 29 to $47.7 billion by Jan. 5, earlier than cooling to round $43.7 billion as of Monday, in accordance to CoinMarketCap.
Associated: Pump.enjoyable hits lowest month-to-month income in 2025 as memecoins lose steam
Throughout the identical interval, memecoin transaction volumes jumped 300%, from $2.17 billion to $8.7 billion. Transaction volumes are roughly $3.69 billion on Monday; nonetheless, the metric has registered a greater than 34% achieve for the day.
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