In fact, since TRUMP, the meaning of celebrity coins has completely 'deteriorated'. We just need to clarify two facts:

1) The expectation that celebrities outside the crypto circle will bring incremental funds and users is problematic: The reason Trump’s coin attracted attention is not only due to the PVP culture within the crypto community but mainly because of the market's optimism about a series of crypto-friendly policies from the Trump administration.

However, the fact proves that issuing MEME coins and implementing crypto policies are two different matters. The president cannot be responsible for coin prices, nor can they introduce real-world credibility endorsements for coin values.

We can only regard $TRUMP as a super MEME with a unique 'angle', while presidents and celebrities from smaller countries merely see the crypto space as a 'cash machine'. At least currently, all the expectations that celebrity coins will significantly break into the mainstream are merely wishful thinking; if they get burned, they can only blame themselves.

2) The PVP opportunities in Crypto are gradually showing an 'entropy reduction' state, and Crypto must return to the mainline of PVE technical narrative: MEME coins are community-driven cultural attribution coins. Compared to the wealth distribution imbalance issues present in VC coins, MEME coins have become the focus of attention in this round of bull market. However, a crypto world that only has MEME coins is destined to be void; the market needs to treat MEME as one variable and return to the mainline of the technical narrative that Crypto relies on.

The DeFi Summer of 2021 sounded the horn for decentralized finance, opening up financial application scenarios for crypto assets such as lending, mining, yield farming, staking, and re-staking. Although it also experienced significant bubbles, it has been proven effective in terms of institutional adoption, protocol cash flow, and the feasibility of breaking into the real-world assets (RWA) space, at least in pure financial scenarios.

In 2025-2026, with the AI Agent Summer as the main storyline, the narrative craze of AI + Crypto seems to currently be a pure 'asset issuance' bubble, but the multi-faceted demands of AI Agents behind it for 'deep application scenarios, product user experience, and the real value of technical concepts' also exist. For example: AI Agents making autonomous trading decisions, multi-agent collaborative portfolio management, agents matching upstream data and computing power markets, agent-based game NPCs, agent-based intelligent human replacements, etc.

Setting aside short-term speculation, the future of AI + Crypto is truly an industry main theme driven by AI Agent applications that can realistically transition from virtual to substantive, achieving a complete cycle from segmented application scenarios to technical concept validation and ultimately commercial landing.

Compared to the pure game of PVP, ordinary people can only find opportunities by locking onto this evolutionary mainline of PVE.