Original Coverage & Source Attribution: en.bloomingbit.io
- Meme coins took a median 17.2 days from their first trade to reach an all-time high, and a quarter of them peaked within 1.6 days.
- The report said 81% of the meme coins analyzed fell more than 90% from their highs, and that it took an average of 370 days to fall 95% from a high.
- Only 3.3% of meme coins regained their previous highs, and Bloomberg said attention and speculative capital are being diverted to artificial intelligence and prediction markets.
Forecast Trend Report by Period
Analysis of 150 Tokens Shows a Quarter Peaked Within Two Days
Average Time to Fall 95% From Peak Was 370 Days
Meme-coin rallies were brief, while the declines that followed stretched on much longer. Tokens took a median 17 days from the start of trading to reach an all-time high, but only about 3% later recovered those peaks after a sharp slump, according to an analysis.
A report released on October 6 by crypto data firm Coin Metrics found that the median time for about 150 meme coins in the sample to rise from their first trade to an all-time high was 17.2 days. A quarter of them peaked in just 1.6 days. The median is the middle value when observations are arranged in order.
By contrast, it took an average of 370 days for prices to drop 95% from their highs. The report defined that point as death. It used the term solely on the basis of the size of the decline, excluding project shutdowns or delistings.
Recoveries after steep losses were also rare. About 81% of the meme coins analyzed fell more than 90% from their peaks. Only five tokens, or 3.3%, regained their previous highs.
The sample was limited to tokens with prices available on centralized exchanges. The report said many meme coins that never made it onto exchanges were excluded, meaning the actual survival period of newly issued tokens may be shorter than this estimate.
Bloomberg reported on October 15 that attention and speculative capital are also being diverted to artificial intelligence and prediction markets, weakening enthusiasm for meme coins.
