根据加密货币的大人物，Memecoin Mania已经过去

随着一个二十国集团（G20）国家的现任总统面临着促进纪念因素的初步弹each诉讼，自上市以来，每个特朗普家庭的纪念物都是负面的

Crypto’s biggest names say the memecoin mania has peaked

加密人物的名字说，Memecoin Mania已达到顶峰

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

“人们厌倦了在模因中损失钱。每个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.

自从在美国大型交流上列出以来，几个特朗普的家庭成员已经下降了。

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

看来，人们厌倦了在模因中损失钱。

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.

自从梅拉尼亚（Melania）达到90％以来，特朗普（Trump）下跌了超过110亿美元，投资者在阿根廷的天秤座，中非共和国的汽车以及名人和品牌的无数产品中损失了数百万美元。

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.

这些项目包括由戴夫·波特诺（Dave Portnoy），张赵（Changpeng Zhao），安然（Enron），藤蔓，约翰·麦卡菲（John McAfee），唐纳德·特朗普（Donald Trump）的就职典礼牧师，霍克·图阿（Hawk Tuah）女孩等发起的项目。

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

随机模因的时代已经结束 - 只有真实的模因。

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

炒作浪潮崩溃了，流动性枯竭，大多数成人的消失速度很快就消失了。

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

精明的投资者注意到了一种模式：无休止的供应和需求减少。

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.

甚至在他们集结为难以想候的高度之前，许多加密退伍军人都怀疑Memecoins将遵循与Metaverse的热潮，NFT泡沫，Defi Summer，ICO冬季或其他季节的加密货币时尚相同的模式。

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

加密货币的趋势持续了几个月，然后没人愿意触摸它们。

No value except for vibes and feels

除了共鸣，没有任何价值

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，纪念因素的问题尤其严重：它们被认为是毫无价值的。与公用事业令牌，承重农场，拥有艺术品的NFT或其他类型的公用事业相反，大多数Memecoin创始人通常会明确地明确承诺对代币持有人没有任何价值，并且他们不会提供长期的发展。

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.

这是避免美国证券交易委员会（SEC）及其披露要求的策略。通过承诺，Memecoin的创作者在Howey测试的投资合同的范围内滑动。

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

阅读更多：废除SEC！与加密货币的顶级监管机构作斗争的十年

Cyclical history of memecoin seasons

Memecoin季节的周期性历史

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的存在至少与2013年的Dogecoin和交易对手代币的创建一样长。尽管最近大多数是Solana Memecoins的浪潮似乎已经冠军，但几周的下降可能太少了，因为有证据表明Memecoins永远不会康复。

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年以来，许多纪念物季节已经过去了。在2017年的ICO繁荣时期，然后在2021年春季，Dogecoin集成了数万个百分点，并产生了数十亿美元的狗硬币，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，另一个所谓的“ Memecoin Supercycle”将Doge，Shib，Moodeng和Pnut的价格提高了数千个百分点。

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，至少在美国，阿根廷和中非共和国的总统在索拉纳（Solana）推出了代币，许多人认为这标志着永久性的顶级。

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

也许是。或者，可能在未来几年中再次出现成败 - 因为它们在过去十年中骑自行车。