New projects arise in the cryptocurrency industry every day, and some of them see significant increases. However, the fact that the vast majority of these tokens disappear over time, never changes.

According to the research report of CoinGecko, one of the most prominent crypto statistics website; there are approximately 24 thousand crypto projects and 14 thousand of these tokens are “dead” right now.

One of the most important details of the report is that most of the disappearing projects consist of cryptos that emerged in the 2020-2021 bull run…

As seen in the graph below, 5724 of these dead projects emerged in 2021. The number is 289 for the year 2023.

Memecoin mania…

CoinGecko also noted that the majority of these failed coins were meme tokens. These crypto projects which were created as “joke” coins, are generally known for their sharp rise and fall.

Even the Avalanche Foundation had announced that they would invest in some of the meme coins of their blockchain.

As we remember, Dogecoin, which is known as the oldest meme coin, experienced big increases in 2021 with the support of Elon Musk. This led to a similar rises in Shiba Inu, the second largest meme coin. In 2022, PEPE became the meme coin of the year, with its 10x rise within a few weeks.

Especially in the last period of 2023, Solana-based memecoins took the stage with their sharp rises…