Opinion: Meme, similar to last bull run's NFT, its era is now over

On February 27th, the founder of the Play-to-Earn game Treeverse, Loopify, posted on social media, expressing his belief that "The era of Meme is over." The emergence of TRUMP marked the end of it all. Subsequently, there were MELANIA and a series of RUG events. LIBRA was the final blow that broke the camel's back. Meme coins are entirely driven by emotions. The vast majority of people buying these tokens are doing it for the money. While the traditional "concerns" associated with other projects do not exist in the Meme world, it also means that the prices of these tokens drop faster than those of most other projects. "No restrictions" is a point highly praised by Meme traders and a key reason for their frenzy, but it comes with obvious drawbacks. Once the excitement of making money wears off, participants will leave. Unlike other traditional tokens where you can still believe in the project, with Meme, "there's nothing there." Loopify believes that, by analogy, Meme is like the NFT of the previous cycle. Almost everyone in the world has heard of NFTs. They have been widely promoted on the Internet. Dozens of top celebrities have launched their own projects. Transaction volumes have reached tens of billions of dollars. The prices of multiple collectible series have reached six figures. And so on. OpenSea was the winner last time, and this time it's pump.fun. Loopify applied data from another KOL (only for Solana), stating that bots and apps extracted $1.09 billion from Meme. pump.fun siphoned off $492 million. MEV extracted $15-20 billion. Trump and insiders extracted $5-10 billion. AMM siphoned off $0-20 billion. And the amount earned by other insiders is immeasurable. This money will not return to the crypto field. If traditional crypto is a zero-sum game, then pump.fun is a negative-sum game.