Meme coins, which have gained popularity in recent months, may lose their relevance within the next six months, experts say.
The Rise and Popularity of Meme Coins
Meme coins such as MELANIA, created by Melania Trump, and LIBRA, supported by the President of Argentina, initially gained popularity due to their humorous concepts and backing by celebrities.
Reasons for the Meme Coin Decline
According to Bitwise's CIO Matt Hougan, the sharp decline of meme coins is linked to their use in illegal activities, including the laundering of stolen Ethereum by the Lazarus hacker group.
The Future of the Crypto Market: New Perspectives
Despite the negative trends for meme coins, the market expects positive changes: growth in institutional interest in Bitcoin, development of stablecoins, and decentralized finance. This may stimulate the market in the future.
The decline in the popularity of meme coins may be temporary, and the crypto market expects new opportunities driven by institutional adoption and decentralized finance.
