Dogecoin (CRYPTO: DOGE) bounced 2.5% but remains trapped below the critical $0.10 level as meme coin dominance collapsed from 0.042 in mid-February to 0.034 in March, signaling capital rotation away from meme tokens.
The Meme Coin Collapse
CryptoQuant data shows meme coin dominance within the altcoin market fell from 0.042 in mid-February to 0.034 in March. .
Solana (CRYPTO: SOL), which served as the primary hub for memecoin speculation, has seen on-chain engagement collapse.
The number of daily decentralized exchange traders on Solana has hit record lows, according to analyst Shah.
“Participation is at all time lows, just a few thousand people are still active, so good coins that once had 100M–1B potential are stuck trading between 500k-20M,” Shah wrote. Moreover X user @capexbt described the chain as a “ghost town.”