If you’ve been keeping an eye on the crypto world, you’ve probably noticed a wild trend: memecoins are taking over! A recent post by Ryan from Blockworks Research on X highlights this shift, showing how meme tokens have been dominating trading volumes on decentralized exchanges (DEXs) for years—and the trend is only growing stronger. Let’s dive into what this means for the crypto community and whether the old-school crypto enthusiasts are right to bet against this quirky corner of the market.

The Memecoin Surge: What the Data Shows

The charts shared by Ryan paint a vivid picture. The first graph tracks the percentage of DEX spot volume by category over time, from December 2018 to July 2025. What stands out? The purple band representing memecoins has been steadily climbing, especially in recent months. At times, it even spikes to dominate over 60% of the trading volume, outpacing categories like stablecoins, Bitcoin, and tokenized assets. The second chart, showing the raw volume in dollars, reveals those spikes even more dramatically—reaching billions during peak moments.

This data suggests that memecoins, often seen as jokes or speculative bets (think Dogecoin or Shiba Inu), are no longer just a niche fad. They’re driving serious action on DEXs, where traders swap these tokens directly without middlemen. But why is this happening?

Why Memecoins Are Winning

Memecoins thrive on community hype and social media buzz, which can send their values soaring overnight. Unlike Bitcoin or Ethereum, which are built on complex tech and use cases, memecoins rely on belief, memes, and sometimes celebrity endorsements. This low-barrier appeal draws in new investors, especially younger ones who love the playful vibe. Plus, with tools like automated trading bots and listings on platforms like PancakeSwap, it’s easier than ever to jump into the memecoin game.

The Blockworks Research data backs this up, showing how memecoin volume surges align with major market pumps—often fueled by viral trends. It’s a rollercoaster, but one that’s keeping DEXs buzzing.

The Skeptics’ Stance: Will the Bubble Burst?

Not everyone’s on board with the memecoin mania. Many crypto “OGs” (original gangsters, or early adopters) argue that memecoins lack real value or utility. They see them as speculative bubbles waiting to pop, pointing to past crashes like the 2022-2023 crypto winter when memecoin market caps dropped to $17-21 billion. Ryan’s post even pokes at this tension, asking how long these veterans will “fight reality.”

There’s truth to their concern. Memecoins often lack the fundamentals of other cryptocurrencies—there’s no blockchain tech or practical use case backing them, just hype. But history shows they’ve bounced back before, with the market cap hitting $60 billion in Q1 2024—a 169% jump from the previous quarter. So, are they here to stay, or is this another flash in the pan?

What’s Next for Memecoins?

As of July 13, 2025, the debate rages on. The Blockworks data suggests memecoins aren’t slowing down, but their long-term survival might depend on evolving beyond hype. Some projects are experimenting with utility—think governance tokens or NFT integrations—which could give them legs. For blockchain practitioners, this is a chance to study market psychology and adapt strategies. Whether you’re a trader, developer, or just a curious observer, keeping an eye on meme-insider.com can help you stay ahead with the latest insights.

So, are memecoins the future of crypto, or just a wild ride we’ll look back on with a laugh? The data says they’re dominant now, but the jury’s still out. What do you think—will the OGs be proven right, or is this the new normal? Drop your thoughts in the comments, and let’s keep the conversation going!