Meme cryptocurrency dominance has fallen to 3.7% of the altcoin market, its lowest level since February 2024, according to CryptoQuant. Analyst Darkvost says the number of meme coin holders is now at a three-year low.
The reading represents a sharp decline from November 2024, when the post-election trading frenzy pushed the token to over 10% of the altcoin market. Since then, capital has flowed elsewhere.
Capital rotates towards utility tokens
The dominance ratio weighs the combined value of tokens against the broader altcoin market. The low reading shows that the group is losing ground to its competitors.
“Meme holders are becoming increasingly rare,” Darkfrost said Highlight.
The rotation is shown in the raw market value. Together, Meme tokens are worth about $28 billion. Real World Asset (RWA) tokens, a sector that now attracts capital, exceed $64 billion, more than double that, per Queen Gekko Data.
Analysts are watching Current altcoin narratives Point to artificial intelligence (AI), RWA, and decentralized finance (DeFi) as the main attraction.
Dogecoin (DOGE) remains the Biggest coin memeWith a value of about $12.1 billion. This is close to half the value of the entire sector.
Long-term shareholders are feeling the pressure
Few instances demonstrate the transformation better than Murad Mahmudov. on Token2049 At some point in 2024, he rolled out a giant coin cycle, arguing that the culture-driven tokens would overtake Bitcoin and Ethereum.
He held it Meme coin wallet For more than two years. On-chain data tracked by Arkham shows that it has not sold a single token. The portfolio is still down about 81% from its peak.
The SPX6900 (SPX) leads this book. The token is trading near $0.40 and is down nearly 67% over the past year, well below its July 2025 high.
Political coins fared worse. The official Trump coin, launched days before his inauguration in January 2025, rose to nearly $73 before collapsing. It is now trading around $1.71, down about 98%, mostly Buyers are sitting underwater.
This pattern has precedent. The last time meme dominance reached this low, in early 2024, a sharp rise was followed within months. Repeating this depends on the return of individual traders, which is new at the moment Coin season meme It seems distant while money prefers tokens with realistic uses.
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