Cathie Wood, CEO of Ark Invest, predicted that most meme coins will devalue. She argued that the current hype around meme tokens lacks lasting value.
The Crash of Meme Coins
The cryptocurrency market is valued at $2.6 trillion, with meme coins taking a significant part. Cathie Wood stated on Bloomberg Television that most created tokens are part of a hype cycle destined to end with devaluation. She emphasized the lack of SEC regulation plans for meme coins, urging buyers to be cautious.
The Future of Leading Cryptocurrencies
Despite the skepticism surrounding meme coins, Wood expressed optimism about Bitcoin, Ethereum, and Solana. She noted the growing adoption and increasing use cases. Bitcoin remains a strong player, with Wood predicting its price will surpass $1 million by 2030. Solana and Ethereum also continue to grow, attracting new projects to their platforms.
Donald Trump's Token and Its Impact
Before taking office, Donald Trump launched his own meme coin, quickly attracting billions in trading volume but soon crashing. The most controversial part is that 80% of this token is owned by companies linked to Trump's business interests, causing concern among critics. The token's launch garnered mixed reactions, with many doubting its positive impact on legitimizing cryptocurrency.
Meme coins remain risky investments due to lack of regulation and high volatility. Leading cryptocurrencies like Bitcoin and Ethereum continue to demonstrate resilience and growth, offering more reliable options for investors.
