Viewpoint: The meme coin market may be in its lowest ebb after the FTX crash, and clear regulatory rules will be the catalyst for the next bull market

In the message from Shen Chao TechFlow, on February 24, according to Jinshi’s report, The Coin Bureau founder Parklin stated that current investor sentiment may have dropped to levels similar to or lower than during the FTX collapse period, with daily new meme coins and celebrity hype frequent.

Parklin added that the profits from these trades rarely flow back into the crypto space. ‘These funds are not used to develop innovative products that help solve real-world problems, which is what we all believe crypto and blockchain can achieve.’ He estimates that $6 billion in crypto liquidity has been lost from the ecosystem due to meme coins.

Meme coin trader Vic Laranja said that meme coins are no longer about community, fairness, or opposing venture capitalists, but have evolved into an industrial complex aimed at extracting as much value as quickly as possible, which was not its original intention. Laranja said that clear rules would be the catalyst to take the crypto field to the next level. Before that, he believed that emotions had already plummeted to a low.