According to Golden Finance, the Meme coin boom that dominated the crypto market in 2024 has cooled significantly. According to the GMCI index chart, multiple cryptocurrencies have generally declined, among which the Meme index has fallen particularly significantly, falling from a peak of about 550% in December 2024 to 80% in March, a drop of 90%. The main constituent currencies in the index, including Shiba Inu, Dogecoin, Pepe and Trump coins, are all facing large selling pressure, and speculative traders are exiting the market. The downward trend is not limited to Meme coins. Since the beginning of 2025, all GMCI sub-indexes have shown a downward trend, but the declines vary. The AI ​​and GMCI30 indexes are relatively resistant to declines and have a smaller pullback, while the GMCI12 and DeFi indexes have fallen more significantly. In addition, the activity data of the Meme Coin Launch Platform also showed a weakening of market interest. Taking Pump.fun as an example, its daily income has dropped below $1 million, far below the previous peak, indicating that the market's enthusiasm for the issuance of New Coin has cooled significantly.