Memecoins在加密货币行业中造成了前所未有的混乱

以下是Squidgrow的创始人Shibtoshi的来宾帖子和意见。 Memecoins在加密货币行业中造成了前所未有的混乱。

Memecoins have created unprecedented chaos within the crypto industry. Most analysts view the chaos in a binary fashion, with some criticizing memecoins as mere speculative assets while others defend them for challenging low-float-high FDV VC-backed tokens.

Memecoins在加密货币行业中造成了前所未有的混乱。大多数分析师以二进制方式看待混乱，有些人批评纪念物仅仅是投机性资产，而其他人则捍卫它们是为了挑战低流畅的FDV FDV VC支持的代币。

However, a new perspective is needed, one that breaks the binary by accepting memecoins as speculative assets and a statement against VC tokens, leading to chaotic market scenarios. Acknowledging memecoins’ potential to breed chaos, it identifies chaos as the birthstone of a new utility-driven token economy.

但是，需要一种新的观点，即通过接受成员作为投机资产和针对VC代币的声明来打破二进制的观点，从而导致了混乱的市场情况。承认Memecoins繁殖混乱的潜力，它将混乱视为新型公用事业驱动的代币经济的诞生石。

Memecoin chaos is good for the industry

Memecoin混乱对行业有好处

Memecoins led investor mindshare in 2024 and emerged as the most popular market narrative. Driven by relatable humor, collective mimetic desire, and virality, the memecoin market rose to $137 billion in December 2024.

Memecoins在2024年领导了投资者的Mindshare，并成为最受欢迎的市场叙事。在相关的幽默，集体模仿和病毒的驱动下，Memecoin市场在2024年12月上升至1370亿美元。

Unlike high-value token launches of VC-backed coins denying fair entry to retail investors, memecoins offer an equitable playing field. Little wonder more than 42% investors were first-time buyers when US President Donald Trump and First Lady Melania Trump launched their memecoins.

与高价值代币推出了VC支持的硬币，否认散户投资者的公平入境，Memecoins提供了公平的竞争环境。毫不奇怪，当美国总统唐纳德·特朗普（Donald Trump）和第一夫人梅拉尼亚·特朗普（Melania Trump）推出他们的成员时，有超过42％的投资者是首次购房者。

At Consensys 2024, Riva Tez of LayerZero Labs explained that memecoins help crypto win the ‘narrative war’ due to their resonance with common people. Indeed, for memecoins, speculation is a vital use-case and essential feature of its functionality.

在Consensys 2024年，LayerZero Labs的Riva Tez解释说，Memecoins由于与普通百姓的共鸣，有助于加密蛋糕赢得了“叙事战争”。实际上，对于模因素而言，猜测是其功能的重要用例和基本特征。

But empty speculation can also be a bug. That’s what happened with memecoins, as its market cap dropped by 60% to around $53 billion in March 2025. Although external factors like geopolitical tensions and global trade wars negatively affected market activity, some intrinsic issues also contributed to memecoins’ collapse.

但是空的猜测也可能是一个错误。这就是Memecoins发生的事情，因为它的市值在2025年3月下降了60％，达到了530亿美元。尽管外部因素（例如地缘政治紧张局势和全球贸易战）对市场活动产生了负面影响，但一些内在问题也导致了Memecoins的崩溃。

Malicious actors duped gullible retailers and extracted capital through scams like rug pulls, fake presales, pump-and-dump schemes, and phishing attacks. The collapse of the Libra token, endorsed by Argentine President Javier Milei, was the final nail in the coffin. It wiped out $4 billion of retail money and eroded investor confidence.

恶意的演员欺骗了可易受骗的零售商，并通过地毯拉力，假预售，泵送式计划和网络钓鱼攻击等骗局提取了资本。阿根廷总统贾维尔·米利（Javier Milei）认可的天秤座代币的崩溃是棺材的最后指甲。它消除了40亿美元的零售资金，并侵蚀了投资者的信心。

Everything was good with memecoins until it wasn’t. The market descended into complete chaos. But the memecoin chaos initiated a much-needed churning within the industry. Stakeholders realized memecoins wouldn’t succeed in the long term with their speculative potential and as an alternative to VC tokens.

成人一切都很好，直到不是为止。市场陷入混乱。但是，Memecoin混乱在行业内引发了急需的搅动。利益相关者意识到，Memecoins从长期以来就不会具有投机潜力，也不会作为VC令牌的替代方案。

The memecoin chaos serves as a wake-up call, albeit a delayed one. Chaotic markets led investors and token developers to realize the necessity of a utility-driven token economy for sustainable value generation. Without altering memecoins’ core thesis, stakeholders must use the chaos as an opportunity to plug utilities into the memecoin market.

Memecoin混乱是一个唤醒电话，尽管延迟了。混乱的市场导致投资者和代币开发商实现由公用事业驱动的代币经济以实现可持续价值产生的必要性。在不改变Memecoins的核心论文的情况下，利益相关者必须利用混乱作为将公用事业塞入Memecoin市场的机会。

Harnessing the potential of chaos

利用混乱的潜力

During the Memecoin Supercycle keynote speech at Token2049 Singapore, Murad said the token is the product. In a chaotic memecoin market, the token itself is not enough to drive value for investors. Instead, token developers must leverage the product and find new avenues to monetize them.

在新加坡Token2049的Memecoin Supercycle主题演讲中，Murad说，代币是产品。在混乱的成员市场中，令牌本身不足以为投资者带来价值。取而代之的是，令牌开发人员必须利用产品并找到新的途径来获利。

Memecoins are still isolated in a closed circular economy, with investors rotating between different tokens on trading apps to book profits. To stabilize the memecoin chaos, they must diversify into yield farming, staking, and liquid staking options to generate fresh market liquidity.

在封闭的循环经济中，Memecoin仍然是孤立的，投资者在交易应用程序上的不同代币之间轮换以预订利润。为了稳定Memecoin混乱，它们必须多样化为产量养殖，堆积和液体储存选择，以产生新的市场流动性。

In other words, memecoins must break free from a gambler’s epiphany of creating generational wealth to become DeFi’s key product. Investors must also stop perceiving memecoins as chips in a casino and instead deploy them in financial markets.

换句话说，模因必须摆脱赌徒的顿悟，以创造世代相传以成为Defi的关键产品。投资者还必须停止将Memecoins视为赌场中的筹码，而将其部署在金融市场中。

The memecoin chaos demonstrates the need to expand from a product to a fully operational crypto ecosystem. The product must be a foundational stone to build utility-focused dapps for solving real-world problems.

Memecoin混乱表明有必要从产品扩展到完全运行的加密生态系统。该产品必须是建立以公用事业为中心的DAPP来解决现实世界问题的基础石。

For example, a memecoin project can launch a a decentralized application or SaaS tool to cater to the broader DeFi audience. The exchange can redirect the profits into the memecoin as buybacks, maintaining a steady capital flow to prevent price crashes.

例如，MemeCoin项目可以启动AA分散的应用程序或SaaS工具来迎合更广泛的Defi受众。交易所可以将利润重新将其作为回购将其重新定向，以保持稳定的资本流程以防止价格崩溃。

Most of the memecoin chaos has resulted from rug pulls and pump-and-dump schemes, eroding investor trust in the asset class. Memecoin projects can restore confidence by building tools that solves pain points in the market such as liquidity lockers.

大多数纪念物混乱都是由地毯拉力和泵送和降低的方案造成的，削弱了投资者在资产类别中的信任。 MemeCoin项目可以通过构建解决市场疼痛点（例如流动性储物柜）的工具来恢复信心。

On a different note, the memecoin community holds the key to chaos. Highly paid project ambassadors, celebrity content creators, and influencers often care little about the project beyond their paychecks. They’ll bulk-purchase tokens and dump them at the slightest hint of a price crash or insider tip-offs.

在另一个方面，Memecoin社区拥有混乱的关键。高薪的项目大使，名人内容创作者和有影响力的人通常不关心薪水超出其薪水的项目。他们会稍微散布购买代币，并以丝毫价格崩溃或内部人士提示抛弃它们。

Thus, memecoin chaos is an important reminder to focus on building an organic and well-knit community. This community will provide unwavering support to the memecoin ecosystem, bolster its utilities, and safeguard the token from abrupt price activity.

因此，Memecoin混乱是一个重要的提醒，专注于建立一个有机和良好的社区。这个社区将为Memecoin生态系统提供坚定的支持，加强其公用事业，并保护令牌免受突然价格活动的影响。

After the chaos subsides, meme tokens shouldn’t abandon their fun quotient to imitate serious financial instruments. Instead, the chaos is a clarion call to merge utility with humor to develop an inclusive and sustainable financial ecosystem.

混乱消退后，模因令牌不应放弃其有趣的商来模仿严肃的金融工具。取而代之的是，混乱是与幽默合并实用程序的澄清呼吁，以开发包容性和可持续的金融生态系统。

In the Pulitzer-nominated book, ‘

在普利策提名的书中，