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| MEME Coin |
Cardano Founder Predicts "99% of Meme Coins Will Dump and Die"
Charles Hoskinson, the founder of Cardano (ADA), has launched a scathing critique against meme coins, questioning their long-term viability and predicting that most will "dump and die." He likens them to "Ponzi schemes" with no real value.
"Like 15-Minute Celebrities" - Meme Coins Lack Longevity Without Community and Utility
Hoskinson compares meme coins to "15-minute celebrities," highlighting their fleeting popularity. He argues that without building strong communities and real-world use cases, they lack the fundamentals for sustained success and are doomed to fade into obscurity.
Insider Distribution Sparks Ponzi Scheme Accusations, Harms Overall Market
Hoskinson points to the insider-heavy distribution models of many meme coins, drawing parallels to "Ponzi schemes." He criticizes the lack of new capital inflow, suggesting a system where money simply circulates among existing investors. This, he argues, not only hinders the broader crypto market's growth but also erodes investor confidence.
Blunt Criticism Sparks Debate, Focus on Long-Term Viability
Hoskinson's comments have ignited a debate about the true nature of meme coins and their impact on the crypto market. He stresses the necessity of genuine community engagement and clear utility for any project aiming for longevity. Without these, he warns, meme coins are destined for failure.