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I wish more people understood this. Especially in the press, since its their job to educate everyone else.
Trading volume is what matters, not trading price. It's only worth $25 billion if you can turn $25 billion of it into cash.
Unfortunately since banks still haven't take wised up to this, and the wildcat crypto banks really haven't, its likely still possible to pump a meme coin and then take out loans against the purported asset value. The bank is then left trying to repossess a pile of worthless memecoin when you fail to repay the loan.
I'd like to add that trade volume is only a slightly better indicator, because wash trading is very easy in crypto. Wash trading happens when the coin's owner and/or an accomplice buy and sell coins back and forth among themselves. It's easy to do if you have control over a huge amount of coins, because you printed them yourself at the low low price of $0. This has two effects: the trade volume grows, which makes it look like there is public interest in the coin, and you can pump up the price at the same time.
Very true.
I suppose I should have said "Fiat dollar trading volumes" although that's an oversimplification. The question you're really trying to answer is "How much actual demand is there for this invented commodity?"
The answer is, inevitably, not nearly enough. When 80% of the available supply of something is locked up in a vault somewhere, there's absolutely no way that 80% could be liquidated without crashing whatever market exists.