The decline of celebrity-backed meme coins has sent shockwaves through the crypto world, with some tokens plunging by a staggering 80% from their peak values.

Recent insights suggest that investors are now turning their attention to projects that offer real-world utility and value, shying away from the glitzy allure of fame-backed cryptocurrencies.

Data from Messari unveils a downturn of 78% on average for tokens like MOTHER, DADDY, TRUMP, MELANIA, and JAILSTOOL, marking a significant shift in market dynamics.

MOTHER and DADDY, linked to Iggy Azalea and Andrew Tate, saw meteoric rises in mid-2024 before taking a nosedive, each shedding over 80% in value.

TRUMP and MELANIA fared no better, with declines surpassing 60% and 80% respectively. Global tensions have heaped pressure on the TRUMP coin, driving it to new lows, with eroding open interest signaling a waning appetite from investors.

Celebrity tokens like IVANKA and JAILSTOOL have also faced hurdles, reflecting the storm cloud over meme coins in the market.

The escalating caution around celebrity coins echoes the broader trend of investors favoring altcoins backed by solid fundamentals and practical applications over speculative gambits.

DeFi and real-world asset tokenization projects are gaining favor, underlining a hunger for sustainable investments with tangible value.

As investors pivot towards more grounded opportunities, the chapter on celebrity-endorsed meme coins may be drawing to a close.