Memecoins’ Survival Guide: Pivot or Perish, Says Hoskinson

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Charles Hoskinson, the maestro behind Cardano (ADA), has likened memecoins to the fleeting stardom of a reality TV star—here today, gone tomorrow, and occasionally resurrected for a reunion special. 🎭

In a tête-à-tête on the Wolf of all Streets YouTube channel, Hoskinson pontificated that memecoins must metamorphose, lest they face the dreaded ‘dumpening’—a term so evocative it could be the title of a dystopian novel. 📉

“A memecoin,” he mused, “is akin to a celebrity basking in their 15 minutes of fame. They may not vanish into obscurity forever, but their popularity is as ephemeral as a Snapchat story. To endure, they must pivot swiftly into ecosystem-building, or risk becoming a footnote in the annals of crypto history. It’s why 99% of memecoins will flop, and the survivors will be the ones who reinvent themselves.”

“They must,” he continued, with the gravitas of a philosopher, “forge a community, engage it, and give it a raison d’être. Otherwise, they’re just digital confetti, destined to be swept away by the winds of indifference.”

“And let’s not forget,” he added, with a sardonic chuckle, “the insiders’ game. Most memecoins are designed for the pump-and-dump, a carnival ride where the only winners are the ones holding the tickets. Surviving the dumpening is no small feat.”

Hoskinson also lamented that memecoins are the crypto equivalent of a leaky bathtub, siphoning capital from the market rather than fostering its growth. 🛁

“It’s like moving water from one side of the tub to the other,” he quipped, “while the drain is wide open, funneling it straight into the founder’s pocket. Net-net, it’s a zero-sum game—or worse.”

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2025-04-02 03:01