Memecoins are down to ~3% of the altcoin market, the lowest share on record.
Normally I’d look at a relative extreme like 0.027 and start thinking about rotation.
But memes have a supply problem now too.
The number of tokens keeps expanding, while the capital available to trade them gets split across more launches.
It changes the setup: money rotating back into memes doesn’t necessarily lift the whole category like it did in previous cycles.
It can concentrate in a handful of names while everything else stays starved of liquidity.
I honestly want to see capital concentration before calling 3% a bottom.
Does the next meme cycle need more money, or simply fewer tokens competing for it?
Normally I’d look at a relative extreme like 0.027 and start thinking about rotation.
But memes have a supply problem now too.
The number of tokens keeps expanding, while the capital available to trade them gets split across more launches.
It changes the setup: money rotating back into memes doesn’t necessarily lift the whole category like it did in previous cycles.
It can concentrate in a handful of names while everything else stays starved of liquidity.
I honestly want to see capital concentration before calling 3% a bottom.
Does the next meme cycle need more money, or simply fewer tokens competing for it?