Memecoins are just short-lived hype with no future – says Cardano founder Charles Hoskinson. According to him, 99% of these “fun tokens” are doomed to fail because they lack real value or utility.
In an interview for the YouTube channel Wolf of All Streets, Hoskinson compared memecoins to celebrities who shine brightly for a moment but quickly vanish from the spotlight. “They gain momentum fast, but without a strong ecosystem and community behind them, their value simply disappears,” he said.
Investors Jump In, Take Profit – and Disappear 💸
Hoskinson also criticized the way memecoins are distributed. He claims they’re often created for insiders who inflate the price, promote the project, and sell off at a profit – with no intention of maintaining it. “Some people get rich quickly, but that’s where the project ends,” he warned.
This, he says, harms not only the token holders but the entire crypto space – because these coins drain liquidity without adding any value. “It’s like moving water from one side of the bathtub to the other – instead of filling it, you're draining it,” he added.
Cathie Wood: Most Memecoins Will Be Worthless 🪙❌
Cathie Wood, CEO of ARK Invest, echoed a similar view in an interview with Bloomberg. She stated that most memecoins “will have no value” and warned investors that despite some going viral, these tokens often lack real-world utility.
Wood also said her investment funds avoid memecoins entirely: “Millions of these assets appear, and most of them are pointless.” She urged people to be cautious and not get swept up in the hype. “My message? Buyers, beware,” she said.
Solana Memecoins Are Losing Ground 📉
Data from Dune Analytics shows declining user activity around memecoins. While daily usage peaked at over 70,000 in January, it dropped to around 9,000 by April 1.
The market capitalization of major Solana memecoins – such as Trump (TRUMP), Bonk (BONK), Dogwifhat (WIF), and Fartcoin (FARTCOIN) – has fallen more than 85% from a high of $81 billion. Investor confidence is plummeting, and so is their value.
What’s Next?
While memecoins may be entertaining and briefly dominate the charts, only those with real use cases, active communities, and transparent goals will survive the long term. For the rest, the fame fades just as fast as it came.
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