The popularity of meme coins appears to be fading, with fewer new tokens being introduced.
Data from Dune Analytics shows a 59% drop in memecoin launches on Solana
This decline follows growing concerns about fairness in meme coin markets, particularly after the $4 billion LIBRA controversy, also known as Libragate, which involved Argentine President Javier Milei.
Did you know?
Subscribe – We publish new crypto explainer videos every week!
What Is Tether? (USDT SIMPLY Explained With Animations)
A partner at Castle Island Ventures, Nic Carter, believes this marks the end of meme coins. On February 19, he stated on X that “meme coins are cooked”, arguing that recent events have exposed deep flaws in the industry.
He explained that meme coins initially gained traction as a more accessible alternative to venture capital-backed tokens with high valuations. While many viewed them as a form of gambling, they at least seemed open to all investors. However, he now sees this fairness as an illusion, citing cases where celebrity-backed meme coins were launched in ways that favored insiders.
Carter pointed to projects linked to figures like US President Donald Trump and influencer Hailey Welch as examples of unfair practices. According to him, these tokens were designed to benefit early buyers at the expense of regular investors.
However, Coinbase
$2.31B
Recently, Hayden Davis, the creator of the LIBRA token, claimed that criticism of meme coin trading comes from investors upset about missing out on insider deals. What did he say about it? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
