Dragonfly: The memecoin trend has ended.
On February 24, in an interview on the cryptocurrency podcast Unchained, Haseeb Qureshi – a manager at the Dragonfly investment fund – stated that the strong growth cycle of Memecoin has come to an end. He compared the current Meme Coin ecosystem to a casino, where each “slot machine” is operated by a different individual, creating a model lacking sustainability. According to him, the boom of these speculative coins has reached its peak and is difficult to maintain in the long term.
In addition, Haseeb also mentioned the rapid decline of the trend of issuing tokens associated with celebrities. He believes that most projects of this type do not provide real value, but primarily leverage the reputation of influential figures to attract cash flow from investors. However, according to him, this trend has significantly cooled off as more people recognize the potential risks.