Election-linked speculation and viral political tokens reshaped memecoins in 2024 before confidence unraveled in early 2025, CoinGecko data shows.
Political narratives helped push memecoins to record highs before accelerating a sharp reversal, according to crypto price tracker CoinGecko.
In its 2025 State of Memecoins Report, CoinGecko highlighted how election-driven speculation has reshaped the memecoin sector. The report found that the total memecoin market cap peaked at $150.6 billion in December 2024, surpassing the sector’s previous highs in 2021.
CoinGecko attributed the rally to a mix of new token launchpads, Solana experimentation and growing political narratives linked to the United States elections.
