Kanye West launched a memecoin on Solana, raising speculation that it signals a market peak for cryptocurrencies. Unlike previous peaks in the bull market of 2021, this signal is perceived as weaker. In November 2021, crypto reached a $3-trillion market cap, with various headlines marking the historic rise. Key moments included El Salvador adopting Bitcoin as legal tender and major NFT sales, which all occurred before the market peaked. Notably, Coinbase's revenues had plummeted just as the peak approached. Compared to these previous indicators, the recent launches, including Kanye's memecoin, seem insignificant. This suggests that it may take further cycles for crypto to regain its prior cultural impact, hinting that current signals might be quieter and less impactful than before.

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