Criticism of memecoins persists. Following Vitalik Buterin and CZ, Cathie Wood has now voiced her skepticism, predicting their inevitable devaluation. However, she makes an exception for Donald Trump's memecoin, $TRUMP, suggesting it might be different. The future of memecoins, therefore, remains highly uncertain.

對模因的批評仍然存在。 在Vitalik Buterin和CZ之後，Cathie Wood現在表達了她的懷疑主義，預測了他們不可避免的貶值。 但是，她例外，唐納德·特朗普（Donald Trump）的成員$特朗普（Trump）表明可能有所不同。 因此，Memecoins的未來仍然高度不確定。

Cathie Wood's Blunt Assessment: Memecoins' Worthless Future?

Cathie Wood的直率評估：Memecoins的毫無價值的未來？

Wood's assessment is stark: "There is nothing like losing money to learn." She believes most memecoins are destined to fail, a view echoed by Bobby Ong, CoinGecko co-founder, who estimates 99.99% will become obsolete.

伍德的評估很明顯：“沒有什麼比虧錢要學習的。” 她認為，大多數模因注定要失敗，這一觀點是由Coingecko聯合創始人Bobby Ong回應的，他估計有99.99％的人將過時。

Exceptions Exist?

存在異常嗎？

Yet, Wood suggests some memecoins could survive as "digital collector's items," citing $TRUMP as a potential long-term speculative asset. The question remains: how many will endure market volatility?

然而，伍德認為，一些模因可以作為“數字收藏家的物品”生存，理由是特朗普作為潛在的長期投機資產。 問題仍然存在：市場將持續多少市場波動？

Memecoin Frenzy: A Rollercoaster Ride

Memecoin Frenzy：過山車騎行

The memecoin boom has experienced significant fluctuations. The launch of $TRUMP initially saw Pump.fun reach a peak weekly volume of $3.3 billion. However, this was short-lived:

Memecoin繁榮發生了重大波動。 特朗普的推出最初是泵。 Fun每周達到33億美元的高峰期。但是，這是短暫的：

• Pump.fun volume dropped 63% between January and February.
• The total memecoin market capitalization plummeted from $124 billion to $54 billion.
• Political tokens like $TRUMP and $MELANIA seemingly absorbed market liquidity.

The LIBRA debacle, costing investors $107 million, is highlighted as a critical turning point. This, coupled with a shift in investor interest towards established cryptocurrencies like Bitcoin and Ether, suggests a waning appeal for memecoins. CoinGecko notes a trend away from memecoins towards higher market cap assets.

Pump.Fun數量在1月至2月之間下降了63％。紀念性市值的總市值從1,240億美元下降到540億美元。政治代幣（如$ trump和$ Melania）似乎吸收了市場流動性。天秤座的爆發似乎使投資者損失了1.07億美元，這是一個關鍵的轉折點。 這，再加上投資者的利益轉移到諸如比特幣和以太等既定的加密貨幣上，這表明對紀念物的吸引力下降。 Coingecko指出了從成員到更高市值資產的趨勢。

The SEC's Inaction Fuels Concerns

SEC的無所作為引起了關注

The Securities and Exchange Commission's (SEC) decision not to regulate memecoins, citing their speculative nature, has left investors vulnerable in an unregulated market. This inaction has been followed by numerous scandals, with the LIBRA incident highlighting the potential for manipulation and significant losses. Reports suggest that less than 1% of memecoins on Pump.fun survive.

美國證券交易委員會（SEC）的決定不監管模因，理由是他們的投機性質，使投資者在不受監管的市場中脆弱。 這種無所作為之後是許多醜聞，天秤座的事件突出了操縱和巨大損失的潛力。 報導表明，泵的成熟度不到1％。

The lack of regulation creates a haven for fraudulent activities, deterring institutional involvement. The Kobeissi Letter points out the SEC acknowledges the "limited, if not nonexistent utility" of memecoins but refrains from intervention. Consequently, market liquidity is dwindling, and investor confidence is eroding.

缺乏法規為欺詐活動創造了避風港，阻止了製度的參與。 Kobeissi的信指出，SEC承認Memecoins的“有限，甚至不是不存在的效用”，但避免了乾預。 因此，市場流動性正在減少，投資者的信心正在侵蝕。

The Future of Memecoins: A Bleak Outlook?

Memecoins的未來：黯淡的前景？

The consequences for memecoins are severe, with investors and promoters bearing the brunt of the losses. Pump.fun has witnessed a 99% token decline within a month. While the question remains whether this marks the end of the memecoin era or merely a temporary lull before another speculative surge, the lack of a clear regulatory framework ensures only the most resilient will survive.

紀念因素的後果是嚴重的，投資者和發起人首當其衝。 Pump.Fun在一個月內見證了99％的令牌下降。 雖然問題仍然是這是否標誌著Memecoin時代的終結，還是僅僅是在一次投機性激增之前的暫時停滯，但缺乏明確的監管框架可確保只有最有彈性的人才能生存。