MoonPay President Keith Grossman has expressed optimism about the future of meme tokens, despite the current downturn in their popularity and price. He emphasizes that the market for these so-called “funny coins” is still very much relevant and suggests that it could soon undergo a transformation.
Grossman points out that meme coins now constitute less than 15% of daily trading volume on decentralized exchanges (DEXs) within the Solana ecosystem. He argues that the prevailing notion that the meme coin phenomenon is over is both simplistic and misguided. According to him, dismissing meme tokens as mere jokes or products of random luck overlooks their innovative potential; they provide a unique way to tokenize attention through blockchain technology.
He highlights that unlike previous models where only platforms, brands, and influencers reaped the benefits of public interest, meme tokens now democratize the process, allowing users to create value from engagement that they previously did for free.
Drawing a parallel to the early 2000s, Grossman likens the current skepticism about meme tokens to predictions made about the demise of social networks after the failure of their first-generation platforms. Just as those initial networks laid the groundwork for today’s cultural giants, Grossman believes the meme token sector is poised for a similar revival.
The backdrop for Grossman’s comments includes significant market changes. In 2024, meme coins had surged to become one of the most lucrative sectors and captured the attention of investors. However, the landscape shifted dramatically in early 2025 amid critical feedback about the actual value of these assets and a series of high-profile scams.
Notably, incidents involving politicians catalyzed this decline. U.S. President Donald Trump introduced the meme token TRUMP prior to his inauguration, which initially skyrocketed in value to $75 before crashing by over 90% to just $5.42. Similarly, Argentinian President Javier Milei endorsed a token called LIBRA, which soared in capitalization to $107 million before losing most of its value soon after. Losses were staggering; nearly 86% of LIBRA traders suffered total losses amounting to $251 million. While Milei was later cleared of ethical violations by Argentina’s Anti-Corruption Office regarding his promotion of the token, the damage to market perception was already done.
In a surprising turn, in October, Binance founder Changpeng Zhao hinted at the potential resurgence of meme coins, heralding the beginning of what he referred to as the “funny coins” season. This announcement raises questions about the future trajectory of meme tokens and whether the market sentiment will shift positively once again.
