Memecoins Are Poised for a Comeback, But in a Fresh Format: Insights from Crypto Executive

Memecoins Will Rise From the Dead, But in a New Form: Crypto Exec

Despite a market downturn, Keith A. Grossman, the president of MoonPay, believes that memecoins are not finished. He argues that they will return in new forms, thanks to the ability of blockchain technology to democratize the attention economy. However, he warns that true value is still concentrated in large centralized platforms.

Key Takeaways

Memecoins are expected to evolve and return in a different format.
Blockchain technology facilitates the tokenization of attention at low costs.
Current market conditions have led to a decline in memecoins, yet past performance was notable.
High-profile failures and criticisms have hampered investor confidence.
Political endorsements have triggered significant collapses in specific memecoins.

The Future of Memecoins: A New Era

Memecoins haven't perished despite a market slump and fading attention, according to Keith A. Grossman, president of the payment infrastructure firm MoonPay. He asserts that memecoins will indeed resurface but likely in an evolved form. Grossman points out that the true innovation behind memecoins is the ease of tokenizing attention through blockchain technology, further democratizing access to what he terms the attention economy.

Memecoin Market Statistics
The memecoin sector took a notable hit in 2025. Source: CoinMarketCap

Despite these innovations, Grossman highlights that much of the value generated hasn’t benefitted the participants, with a significant portion remaining tied up in large, centralized platforms.

He likens current analyst pessimism towards the memecoin sector to the early 2000s skepticism regarding social media, which rebounded with the advent of a new wave of social platforms that transformed the space into a significant cultural phenomenon.

In 2024, memecoins were among the top-performing crypto sectors, dominating investor narratives, as noted by crypto market databank CoinGecko. However, a barrage of criticism and prominent token failures led to a market downturn, prompting many investors to abandon the memecoin narrative.

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Political Influence and Memecoin Downturn

The memecoin market suffered a significant downturn in the first quarter of 2025, marked by high-profile collapses labeled as “rug pulls.”

In a striking move, U.S. President Donald Trump launched a memecoin in anticipation of the January 2025 inauguration, which peaked at $75 but subsequently plummeted over 90%, hitting about $5.42 according to data from CoinMarketCap at the time of reporting.

Decline of Trump Memecoin
The official Trump memecoin has lost over 90% of its value since its launch. Source: CoinMarketCap

Additionally, Javier Milei, the president of Argentina, endorsed a social token called Libra, which also saw a massive drop, resulting in 86% of LIBRA holders realizing losses exceeding $1,000. The token had managed to reach a market cap of $107 million before its collapse, with the crypto community labeling it a rug pull.

Milei's attempts to distance himself from the token's launch led to further scrutiny, including his involvement in a government investigation, lawsuits from retail investors, and calls for impeachment from Argentine lawmakers.

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