After the election of President Trump, meme coin prices as measured by the Meme Coin Index roughly doubled as he campaigned with a friendly message toward crypto assets. Just before his inauguration, President Trump launched a meme coin himself, which briefly shot up in value to a market capitalization of USD 14.5 billion but has since declined again to USD 2.3 billion. ‘Meme coin’ refers to crypto assets often named after characters, individuals, animals, artworks, or other memetic elements. Meme coins are used to speculate or serve entertainment purposes. The Meme Coin Index is a modified market cap-weighted index which tracks the price returns of the six largest meme coins. Enthusiasm for these coins appears to have waned with the Meme Coin Index having declining 67% since its peak in December 2024.
Source: MarketVector, Bloomberg, March 2025.