81% of Sampled Memecoins Fell at Least 90% From Their Peaks

A lifecycle analysis of 150 memecoins found that 81% fell at least 90% from their all-time highs, while only five later regained those peaks, illustrating steep declines in the selected sample.

The median token reached its all-time high 17.2 days after its first exchange trade. One-quarter reached their peaks within 1.6 days. The median time from an all-time high to a 95% drawdown was 370 days.

The analysis examined tokens with a price on at least one centralized exchange. It focused on tokens launched during the period the study calls the Solana Memecoin Era, which began in December 2023. The lifecycle sample contained 150 tokens.

The study defined a token’s lifecycle as starting with its first exchange trade and treated a 95% drop from its all-time high as a collapse. Roughly 90% of the tokens had fallen 95% from their peaks by day 1,000.

The sample does not represent all memecoins. Requiring a centralized-exchange price excludes many tokens created on launchpads and may make the measured lifespans longer than those of a typical launchpad token. The study describes its 95% threshold as arbitrary and its results as illustrative.

The analysis also refers to 151 tokens in a separate price comparison, while the lifecycle analysis uses 150. It does not explain the difference.