根據加密貨幣的大人物，Memecoin Mania已經過去

隨著一個二十國集團（G20）國家的現任總統面臨著促進紀念因素的初步彈each訴訟，自上市以來，每個特朗普家庭的紀念物都是負面的

Crypto’s biggest names say the memecoin mania has peaked

加密人物的名字說，Memecoin Mania已達到頂峰

„People are getting tired of losing money in memecoins. Everyone can see that the bubble is bursting.“

“人們厭倦了在模因中損失錢。每個人都可以看到泡沫正在破裂。”

Several Trump family memecoins have declined since listing on a major US exchange.

自從在美國大型交流上列出以來，幾個特朗普的家庭成員已經下降了。

People, it appears, are sick of losing money in memecoins.

看來，人們厭倦了在模因中損失錢。

TRUMP has declined over $11 billion since its peak, MELANIA is down 90%, and investors lost untold millions in Argentina’s LIBRA, Central African Republic’s CAR, and countless offerings by celebrities and brands.

自從梅拉尼亞（Melania）達到90％以來，特朗普（Trump）下跌了超過110億美元，投資者在阿根廷的天秤座，中非共和國的汽車以及名人和品牌的無數產品中損失了數百萬美元。

These projects include those launched by Dave Portnoy, Changpeng Zhao, Enron, Vine, John McAfee, Donald Trump’s inauguration pastor, the Hawk Tuah girl, and thousands more.

這些項目包括由戴夫·波特諾（Dave Portnoy），張趙（Changpeng Zhao），安然（Enron），藤蔓，約翰·麥卡菲（John McAfee），唐納德·特朗普（Donald Trump）的就職典禮牧師，霍克·圖阿（Hawk Tuah）女孩等發起的項目。

The era of random memecoins is over — only the real ones remain.

隨機模因的時代已經結束 - 只有真實的模因。

The hype wave crashed, liquidity dried up, and most memecoins vanished as fast as they appeared.

炒作浪潮崩潰了，流動性枯竭，大多數成人的消失速度很快就消失了。

Savvy investors have noticed a pattern: endless supply and dwindling demand.

精明的投資者註意到了一種模式：無休止的供應和需求減少。

Even before they rallied to unimaginable heights, many crypto veterans suspected that memecoins would follow the same pattern as the metaverse craze, NFT bubble, DeFi Summer, ICO winter, or other season-long crypto fads.

甚至在他們集結為難以想候的高度之前，許多加密退伍軍人都懷疑Memecoins將遵循與Metaverse的熱潮，NFT泡沫，Defi Summer，ICO冬季或其他季節的加密貨幣時尚相同的模式。

Trends in crypto are hot for a few months and then nobody wants to touch them.

加密貨幣的趨勢持續了幾個月，然後沒人願意觸摸它們。

No value except for vibes and feels

除了共鳴，沒有任何價值

The problem with memecoins is particularly acute, however: They are self-described as worthless. As opposed to utility tokens, yield-bearing farms, artwork-owning NFTs, or other types of utility, most memecoin founders often explicitly promise no value to token holders and that they’ll provide no long-term development.

然而，紀念因素的問題尤其嚴重：它們被認為是毫無價值的。與公用事業令牌，承重農場，擁有藝術品的NFT或其他類型的公用事業相反，大多數Memecoin創始人通常會明確地明確承諾對代幣持有人沒有任何價值，並且他們不會提供長期的發展。

This is a tactic to avoid the US Securities and Exchange Commission (SEC) and its disclosure requirements. By promising nothing, memecoin creators slide under the radar of the Howey test for investment contracts.

這是避免美國證券交易委員會（SEC）及其披露要求的策略。通過承諾，Memecoin的創作者在Howey測試的投資合同的範圍內滑動。

Read more: Abolish the SEC! A decade of battling crypto’s top regulator

閱讀更多：廢除SEC！與加密貨幣的頂級監管機構作鬥爭的十年

Cyclical history of memecoin seasons

紀念季節的周期性歷史

Memecoins have existed at least as long as the creation of Dogecoin and Counterparty tokens in 2013. Although the recent wave of mostly Solana memecoins seems to have crested, a few weeks of decline is probably too little to claim as evidence that memecoins will never recover.

Memecoin的存在至少與2013年的Dogecoin和交易對手代幣的創建一樣長。儘管最近大多數是Solana Memecoins的浪潮似乎已經冠軍，但幾週的下降可能太少了，因為有證據表明Memecoins永遠不會康復。

Since 2013, many memecoin seasons have come and gone. There was one amid the ICO boom of 2017, and then in spring 2021, Dogecoin rallied tens of thousands of percentage points and spawned multi-billion dollar dog coins like Shiba Inu.

自2013年以來，許多紀念物季節已經過去了。在2017年的ICO繁榮時期，然後在2021年春季，Dogecoin集成了數万個百分點，並產生了數十億美元的狗硬幣，例如Shiba Inu。

In late 2023, another so-called “memecoin supercycle” sent prices of DOGE, SHIB, MOODENG, and PNUT thousands of percentage points higher.

2023年下半年，另一個所謂的“ Memecoin Supercycle”將Doge，Shib，Moodeng和Pnut的價格提高了數千個百分點。

Most recently, in January 2025, at least presidents of the US, Argentina, and the Central African Republic launched tokens on Solana with many believing that this marked the permanent top.

最近，在2025年1月，至少在美國，阿根廷和中非共和國的總統在索拉納（Solana）推出了代幣，許多人認為這標誌著永久性的頂級。

Perhaps it was. Or perhaps memecoins will emerge again in future years — as they have cycled throughout the past decade.

也許是。或者，可能在未來幾年中再次出現成敗 - 因為它們在過去十年中騎自行車。