Week in Memes: Market Bloodbath and New Developments Shake the Meme Coin Space

The meme coin space had a terrible week as the market cap dropped -18%, now sitting at $46.99 billion. In the middle of this tumult, well-known projects PumpSwap and Pump(.)fun tried to get our attention with some new launches and updates. Even these, however, couldn’t change the market’s direction. And what is that direction? Well, it’s down, and it’s down at a pretty rapid pace. This is largely due to high-level global macroeconomic concerns and some political events that have stirred people up and made them worry about what’s happening with the economy. This week was, as they say, “not good” for the meme coin space. Market Overview: A Significant Drop in Value The meme coin market has taken a hard hit, with the overall market cap falling 18% in just a week. The market now sits at $46.99 billion, reflecting the broader bearish sentiment that has gripped crypto markets globally. This dramatic decline has impacted key players in the meme coin space, pushing them down in rankings and cutting into their recent gains. DeFiLlama, a popular DeFi analytics platform, saw its meme coin-related projects fall from the top spot to 10th place, marking a sharp drop in market dominance for the sector. The sell-off was set off by a ripple effect from former President Donald Trump’s announcement of reciprocal tariffs. That, in turn, led to a broader market-wide sell-off. This geopolitical move sent tremors across the markets, including crypto, as investors scurried to safer assets. The net result? A significant downturn in meme coin prices. Chain Performance: Some Bright Spots Amid the Chaos Although the entire market witnessed downturns, specific chains experienced some robustness. Solana (SOL) saw a slight increase, and certain coins like MEW (+13.5%) and WOULD (+9.4%) distinguished themselves as uncommon victors amid the widespread decline. Binance Smart Chain (BSC) was yet another chain where some tokens performed satisfactorily, TEST (+10%) and TUT (+70%) being two that did well, suggesting that investors are still quite interested in certain segments of the meme space. Ethereum (ETH) wasn’t untouched by the downturn, but many of its leading meme tokens were in quite a bit of trouble. PIKA (+5%) was one of the scant few tokens in the ETH-based meme project space that was making gains, and even then, you would describe it as modest, offering a small glimmer of hope for the projects period. At the same time, Tron (TRX) was seeing some lone positivity with its meme token, BULL (+5%), which emerged as the only winner in the week where tokens driven by hype and projects were having sharp corrections. Week in Memes: Pump(.)fun Launches PumpFi Lending, Markets Bleed 18%. Market plummets 18% to $47B! PumpSwap hits $3B volume! Pump(.)fun launches PumpFi lending! Let`s unpack this week`s meme turmoil 1/6 pic.twitter.com/aqqPTBIPUz — CoinMarketCap (@CoinMarketCap) April 4, 2025 Notable Declines: The Bloodbath Continues Negative aspects hit several leading meme tokens hard. POPCAT suffered the most substantial tumble, descending by 32.5%, with PENGU (-31.2%) and WIF (-29.2%) closely following. These tokens, which had shown remarkable advancements in the preceding weeks, found themselves in a significant rotation as investors retracted. FART (-28.6%) and SPX (-25.3%) also topped the list of tremendous losses, underlining the major market reversal since the recovery seemed to have been set in motion. Bitcoin ($BTC) and Ethereum ($ETH), the market leaders, both took big drops, pulling down the meme coin market with them. The pullback in these leading cryptocurrencies was largely due to macroeconomic concerns, and the resulting fear and uncertainty have now bled over into riskier assets like meme coins. Platform Developments: New Ventures and Risky Moves Even in these formidable market conditions, there were some noteworthy developments among projects during the past week. Pump(.)fun, a well-known meme coin platform, touted the launch of PumpFi, an undercollateralized lending product of sorts. This new offering allows users to pay a third of their loan up front, with the remainder due over the next 60 days. Whose bright idea was this, anyway? It seems that the initiative itself is innovative. Why, then, does it raise some concerns? For starters, it is credit card free and without the sorts of credit checks that most lenders require, which makes it a bit of a risk for both the user and the platform. In a significant development, meme-sharing platform 9GAG acquired Howkingtech, a company listed in Hong Kong, for $10.2 million. This acquisition appears to be part of 9GAG’s larger plan to transition from a meme-sharing platform to a platform that serves meme coins and meme-related businesses, which 9GAG now plans to do under the name “MemeStrategy”. MemeStrategy’s first significant move in its new dual role as regulator and enabler of the meme economy was to ensure that meme coins are not illegal or otherwise problematic, which it seems to have done, epigrammatically, by issuing a new guideline stating that it’s okay to serve up and invest in meme coins. So, what is a meme coin, anyway? Conclusion: The Meme Coin Roller Coaster The last week has displayed the pure volatility that exists in the meme coin market. Even with some new features and developments on the platforms, the overall market is still in turmoil. When you sell off the entire market triggered by some political event, it creates a tough situation for any investor. And then you add the meme coin factor to it, and it really is a tough time. Even as PumpFi and MemeStrategy push ahead with audacious plans, we do not know if these initiatives can counterbalance the overarching trend of a declining market. As the still-evolving sector of the meme coin space continues to move forward, it is vital for investors to remain vigilant and pay close attention to both the technological innovations that will shape the sector’s future and the broader external market forces that will influence the sector in the near term. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

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