Viewpoint by: Igor Zemtsov, CTO at TBCC
In the aftermath of “Libragate,” prices for memecoins plummeted, with their market capitalization descending nearly 60% from the peaks of 2025. But are meme tokens truly finished? They seem to have more comebacks than a hyperactive cat.
Even amid the turmoil, memecoins maintained a market cap of $47.9 billion as of March 10. That’s not exactly pocket change. In the meantime, enthusiasts are still diving in and “buying the dip” as if it’s a Black Friday frenzy, believing that whimsically named tokens like Unicorn Fart Dust, Fartcoin, and Buttcoin will yield them 100x returns by year’s end.
Some label this behavior as irrational; others call it degeneracy. Yet, when has that deterred anyone in the crypto space?
Struggling, but still alive
It’s true that memecoins aren’t currently eclipsing Bitcoin (BTC), Ether (ETH), or Solana (SOL). They’ve faced severe downturns. Prices have plummeted, liquidity has dwindled, and traders who envisioned cruising on yachts are now commiserating in Telegram channels.
Let’s not deceive ourselves into thinking this is the first time memecoins have been declared dead. Each time they’re dismissed, they somehow manage to claw their way back — sometimes even staging a more outrageous comeback than before.
After all, logic has never been the hallmark of the crypto world. If it were, we wouldn’t have witnessed billion-dollar valuations for tokens focused on flatulence in the first place. Human nature indicates that people will continuously chase the next big hype train — especially when it’s presented with humor and the allure of quick riches.
Memecoins might be struggling at this moment. But dead? Absolutely not. The instant another ludicrous trend takes off, the funds will pour back in. Because in crypto, what goes down will invariably come back up — often in the most surprising, meme-driven manners.
Superior marketing to serious crypto projects
Forget about white papers, roadmaps, or security checks. Memecoins don’t require any of that. All it takes is a viral meme on social media, a quick token launch, and within weeks, it might achieve a market cap of $50 million. In contrast, serious projects spend years developing their products, bringing on developers, and raising funds, only to watch their tokens struggle to gain any momentum.
Recently: Solana’s revenue dropped 93% from its January peak following the memecoin bubble burst
For memecoins, the community is crucial. A larger community leads to a bigger burst. It’s not just about retweeting project updates multiple times a day; it’s about fully embracing the humor. These communities don’t merely speculate — they believe. And when enough people buy into the meme, the token’s value rises.
Shiba Inu (SHIB) garnered a loyal following as the so-called Dogecoin (DOGE) killer. It never dethroned DOGE, but it emerged as a $9-billion token with its own blockchain. Other projects took even stranger routes. Fartcoin transformed flatulence into a financial concept, while Unicorn Fart Dust capitalized on ridiculous branding. Buttcoin, a meme from 2013 mocking Bitcoin, has made a resurgence to poke fun at the entire sector.
The pattern is clear: the more outrageous the name, the larger the hype. In some cases, “it’s amusing” is all the investment rationale you need.
Yes, the recent crash eliminated some gains, but let’s not pretend that memecoins have vanished. They didn’t drop to zero, which, in the realm of crypto, makes them survivors. A passionate community, relentless memes, and top-tier humor can keep even the most absurd creations thriving.
Memecoins as a challenge to conventional finance
Investors are choosing Dogecoin over shares of Apple, and there’s a reason behind it — sort of. Crypto has become the refuge for those disenchanted with traditional finance. Banks freeze accounts, regulations become increasingly burdensome, and insider trading is prevalent. In contrast, memecoins provide a free-for-all, where anyone can hit it big or lose it all. No intermediaries. No regulations. Just vibes.
The same Buttcoin exemplifies the notion that people will rally behind anything purely for enjoyment. What began as a joke has cultivated a committed community aiming to make it the next Bitcoin. It’s pure madness, and that’s precisely what fuels its success.
If the world has become chaotic, why not profit from the turmoil? As financial markets become more centralized, restrictive, and governed, memecoins offer an anarchic alternative. They embody the financial Wild West, where anything is possible; even the most nonsensical assets can achieve billion-dollar valuations.
Memecoins as part of internet culture
Memecoins emerged in 2013 with the launch of Dogecoin, a joke about speculative investment. Not even its creators took it seriously until it caught the attention of Elon Musk, who became its unofficial leader.
That same year, Buttcoin was born from a YouTube video. Initially just a meme, the community later chose to turn it into an actual cryptocurrency. It took off because people love humor — and some believe it could rival Bitcoin.
Every new wave of memecoins pushes the absurdity even further — starting with DOGE, then Shiba, and now Bonk (BONK). We currently see a surge of tokens inspired by flatulence, waste, and humor. And somehow, these continue to outperform established projects.
As long as memes retain their appeal, memecoins will carve out their niche in the crypto landscape. They represent a facet of internet culture that has transitioned into a legitimate asset class.
Are memecoins here to stay?
Most memecoins begin as a comedic concept, yet some have evolved into tangible use cases. DOGE is accepted for payments by companies like Tesla, AMC, and GameStop. SHIB holders can shop at places like Gucci, Nordstrom, and Whole Foods. Even newer projects, such as Solcat, are launching games to grow their ecosystems.
Memecoins have transcended mere jokes. They are shaping a new financial reality where virality, speculation, and internet culture dictate value. However, let’s not ignore the evident: the recent crash has reduced valuations, leaving many to ponder the future.
Are they permanent players, or are we witnessing their gradual decline into obscurity? If history teaches us anything, it’s that memecoins resemble cockroaches — tough, unpredictable, and always reappearing. Investors should prepare for ongoing chaos, as these tokens remain infinitely volatile.
While memecoins may not dominate the scene today, let’s face it: the next big meme token is likely in some Telegram group, poised for its moment to either take off or crash.
Viewpoint by: Igor Zemtsov, CTO at TBCC.
This article is for informational purposes only and is not intended as legal or investment guidance. The views, thoughts, and opinions expressed here belong solely to the author and do not necessarily reflect or represent any other entity’s views and opinions.