Viewpoint: Meme coins are becoming a rapidly value-extracting "industrial complex."

ChainCatcher news, according to Business Insider, The Coin Bureau founder Nic Puckrin stated that people in the current crypto market have begun to grow weary of meme coins, and the current investor sentiment may be as low as it was during the FTX collapse, if not lower. New meme coins are launched almost every day, with some celebrities involved in the hype and sell-off.

The original concept of meme coins was to be fun assets that the community could participate in, reflecting the meme culture on the internet through shared tokens. However, meme coins are no longer about community, fairness, or opposing venture capitalists; instead, they have evolved into an "industrial complex" aimed at extracting as much value as quickly as possible, which was not their original intention.