Shift from Memecoins to Layer-1 Altcoins Signals Market Maturity: Details

The crypto market appears to be pivoting toward a more stable and sustainable cycle as interest wanes in speculative memecoins, according to data from onchain analytics platform Santiment. In a recent report, Santiment revealed that discussions surrounding top layer-1 blockchains, including Ethereum, Solana, Toncoin, and Cardano, now account for 44.2% of social media conversations about specific cryptocurrencies. In contrast, the six leading memecoins combined garner a mere 4% of the chatter.

Layer-1 Altcoins Dominate Memecoins

The shift suggests a renewed focus on foundational blockchain technologies, which are critical for long-term growth and real-world adoption. “Increased attention on these assets usually indicates a more mature and informed approach by the community,” Santiment noted, highlighting that these networks support smart contracts, decentralized applications, and scalable solutions essential to the crypto ecosystem.

Memecoins like Dogecoin, Shiba Inu, and Pepe have experienced a sharp decline in social media buzz. The report speculated that recent market volatility may have dampened enthusiasm for these assets, which historically represent phases where traders chase quick profits before inevitable corrections.

Long-Term Confidence

Meanwhile, Santiment reported that 224,410 Ether, valued at approximately $600 million, was withdrawn from major exchanges between February 8 and February 9. This marked the largest single-day outflow in nearly two years. Such withdrawals typically indicate a shift toward long-term holding, as investors remove assets from exchanges to safeguard them in private wallets.

Santiment characterized this development as a “strong sign” for Ethereum’s price resilience, despite recent struggles. “It signals long-term confidence by investors,” the platform emphasized.

Meanwhile, on February 10, an inactive wallet holding 14,000 Bitcoin, untouched for seven to 10 years, suddenly became active, moving funds without transferring them to any exchanges. Crypto Dan, a contributor to analytics platform CryptoQuant, noted that while such movements may trigger concern, they do not necessarily signal impending sell-offs. “In the past, similar events didn’t always result in price declines,” he said.

Memecoin activity surged following the launch of US President Donald Trump’s memecoin, with Pump.fun reaching a record $3.3 billion in weekly trading volume.