Despite the SEC greenlight, the overall meme coin market cap dropped from $57.46 billion to $55.43 billion.
TL;DR
- SEC announced that meme coins are not securities
- Cardano meme coin, SNEK, outperformed
- Pump.fun trading volume dropped 63%
- Ronaldinho's token, STAR10, faced scrutiny after insider trading
- BabyDoge integrated AI scam detection
Meme Coin Snaps
- FUD towards the meme coin sector reached extreme levels until the SEC announced that our beloved degenerate shiny objects are collectibles and not securities. “Mom, I’m not gambling, I’m collecting!”
- Will we get our bags pumped soon as the Global M2 Money Supply rips higher?
7-Day Meme Coin Market Snapshot
Despite the SEC greenlight, the overall meme coin market cap dropped from $57.46 billion to $55.43 billion.
The top meme coins did, however, show a gradual and correlated move towards the upside.
Source: CoinMarketCap
The blue chips, Bitcoin, Ethereum, Solana, XRP and BNB, recovered well, as all eyes are on Friday’s crypto summit at the White House with rumors circulating of an official announcement about a Bitcoin reserve strategy. Who doesn’t love a gold old rumor to lose money on?
Source: CoinMarketCap
Meme Coin Market vs Other Crypto Sectors
DeFiLlama's Narrative Tracker showed that memes were ranked a middling 10th.
The 30-day trajectory showed a modest bounce and we’re now down about 21%.
Source: DeFiLlama
Top 20 Meme Coin Leaderboard
The best performing token from the top meme coins this week launched on Cardano. Wait, what?
Meme Coin Charts: 7-Day Insights
The meme coin market has wiped out all the gains it made after Donald Trump’s presidential win in November 2024, losing over half its value since December. There is an increasing positive sentiment in the market again, though.
Biggest Gainers
- Snek (SNEK): +29.10%
- Brett (BRETT): +11.62%
- Dogecoin (DOGE): +1.72%
- Peanut the Squirrel (PNUT): +1.69%
- OFFICIAL TRUMP (TRUMP): +0.83%
Biggest Decliners
- Pudgy Penguins: (PENGU): -21.76%
- SPX6900 (SPX): -18.41%
- ai16z (AI16Z): -18.03%
- Mog Coin (MOG): -17.99%
- Pepe (PEPE): -13.89%
Meme Coins by Chain
BSC Memes
- AI Companions (AIC) rises 15% while redefining virtual companionship.
Solana Memes
- Peanut the Squirrel (PNUT) continues to show strength and is up another 15%.
- Unicorn Fart Dust (UFD) soars by 50% and Ron is on fire!
Ethereum Memes
- Apu Apustaja (APU) gains 15% while giving gas with no brakes!
- Neiro skyrockets by 80% and focuses on consistency.
Tron Memes
- SUNDOG (SUNDOG) gains 2% as they rise an
d grind.
- SUNCAT (SUNCAT) goes up by 3% on their mission to the SUN.
Most Tron meme coins have low market caps compared to tokens on chains like Ethereum and Solana, so they are extremely risky until proven otherwise.
Base
- Brett (BRETT) rises another 10% while showing off their bot.
- Ski Mask Dog (SKI) is up 9% as they sit back and let the dawg cook.
Bitcoin Runes
- Pups (PUPS) surges by 30% and spreads world peace.
- Billy (BDC) is up 9% while making Billy great again!
Meme Coin News
SEC Says Meme Coins Are Not Securities
The SEC’s Division of Corporation Finance clarified that meme coins do not fall under U.S. securities laws or meet the Howey test’s criteria, comparing them to collectibles rather than investments.
While meme coin transactions do not require SEC registration, the agency warned that fraudulent activity could still face enforcement from other regulators.
This marks a huge shift from the SEC’s previous approach under former Chair Gary Gensler, who viewed most cryptocurrencies as securities and pursued legal action against major crypto firms like Coinbase and Ripple Labs. The SEC noted that its current statement is a staff interpretation, not an official rule or regulation. Huh?
Pump.fun Volume and Launches Crash
Trading volume on Pump.fun nosedived 63% in February, falling from $119 billion in January to $44 billion, the lowest since October 2024. Are we even surprised? The drop follows several high-profile meme coin scams, including the LIBRA scandal, where Argentine President Javier Milei's endorsement led to a pump and dump.
New token launches on Pump.fun also declined, from 58,000 per day at the start of February to 24,000 by March 4. Additionally, the token graduation rate, tokens reaching the $100,000 market cap required for Raydium listing, fell from 1.85% to 0.83% per week.
The platform is working on recovery efforts, including a new mobile app, and plans to integrate an automated market maker (AMM) to boost liquidity. Solana's decentralized exchanges continue to thrive, surpassing Ethereum in DEX trading volume for the fifth consecutive month, reaching $109 billion.
Ronaldinho's Own Goal With His Token Launch
Brazilian football legend Ronaldinho Gaúcho launched his official token, STAR10, on March 3, promising users exclusive benefits like signed collectibles and AI agent access.
On-chain data revealed that an insider wallet linked to Ronaldinho profited from the launch, acquiring 21 million STAR10 tokens for 48 BNB ($29,247) and still holds $4.93 million worth. Guys, it’s March, are we still falling for these celebrity coins?
What can you do next?
- DYOR before aping any celebrity tokens, so far they have all pumped and dumped.
- Don’t just focus on one chain, as you can see even Ada coins are currently doing well.
- Meme coins are extremely volatile. Make sure to have a diversified portfolio.
- Consider reinvesting some profits into safer crypto tokens or stables.
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