Memecoin Market Malaise: Bagworkers Dying Off, No Memes, Volume Absent
Multiple CT voices converge on the diagnosis that the on-chain memecoin scene is in a down cycle: community shillers (bagworkers) are dropping out, meaningful memes are absent, and coins lack sustained volume to keep participants engaged.
What we know
An account on X posted a heartfelt note lamenting that bagworkers are dying off one by one due to poor coin performance and lack of support structures. Replies echoed the sentiment that the space has become joyless. Another account on X summarized bluntly: 'We are suffering from the lack of memes. We have become $Memeless.' another account on X shared a deep audit of the pump.fun casino — 384M swaps, 7.7M wallets — framed simply as 'tldr,' implying the data speaks for itself about the grind participants face.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.