Memecoin Factories Flooded the Market — Then Came the Fallout

[madtrader]

Another key driver behind the explosion of failures was the sheer number of tokens launched in 2025. GeckoTerminal data shows listings jumping from 3 million tokens at the end of 2024 to over 20 million by the end of 2025, largely fueled by memecoin launchpads.

Lee points to pump.fun, built on Solana, as a major catalyst. While memecoins entered 2026 with renewed momentum — market capitalization climbing from $38 billion to nearly $48 billion before cooling, per CoinMarketCap — the surge underscores how easy token creation can amplify both booms and mass failures.

[chainsniff]

going from 3m to 20m tokens in a year is just asking for a mass grave