Source: Cointelegraph Original: "{title}"
The cryptocurrency market continues to repeat old narratives, with almost no new trends emerging in the first quarter of 2025 to replace the dominant themes.
According to CoinGecko's quarterly research report, artificial intelligence (AI) tokens and meme coins dominated the cryptocurrency market narrative in the first quarter of 2025, accounting for 62.8% of investor interest. Among them, AI tokens captured 35.7% of global investor attention, surpassing the 27.1% share of meme coins in second place.
In the top 20 cryptocurrency narratives for this quarter, six categories were related to meme coins, and five were related to artificial intelligence.
Bobby Ong, co-founder and COO of CoinGecko, stated in a post on the X platform on April 17, "It seems we have yet to see new narratives emerge, and we are still continuing the trends of the past few quarters. I think we are all tired of these old tunes."
After the Trump team launched Official Trump (TRUMP) on the Solana network on January 18 and Official Melania (MELANIA) on January 19, meme coins experienced a strong surge on January 20, just before U.S. President Trump's inauguration.
However, some industry observers are concerned that meme coins are siphoning off funds from utility tokens (like SOL), limiting their price potential.
According to TradingView data, SOL has dropped about 48% in the three months since Trump's inauguration, having briefly surpassed $270 beforehand.
The cryptocurrency industry faced another blow after the collapse of the Libra (LIBRA) token, endorsed by Argentine President Javier Milei. It was reported that insiders withdrew over $107 million in liquidity, causing prices to plummet by 94%, evaporating $4 billion in market value within hours.
The report noted that after the Libra scandal, meme coins "hit rock bottom," with a significant decrease in the number of new tokens deployed on the Pump.fun platform:
Although the Libra scandal marked the end of the "political meme coin" trend, the industry's most profitable traders are still seeking speculative meme coin investment opportunities after the meme coin supercycle ended.
Nansen research analyst Nicolai Sondergaard told Cointelegraph, "Recently, there has been a surge in meme coins, and smart money is always happy to capitulate in this regard." He added that meme coins may only be a "fun investment" for savvy investors, as they are not affected by the macroeconomic factors facing Bitcoin (BTC) and Ethereum (ETH).
At the end of March, a savvy trader turned an initial investment of $2,000 into $43 million through the popular meme coin Pepe (PEPE), but missed the peak and ultimately realized a profit of over $10 million, despite Pepe later dropping more than 70%.
Related: Coinbase distances itself from controversial meme coin project, project market cap evaporates by $15 million.
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