Summary
- Meme coins, which rely on investors' belief, are facing continued criticism following recent negative incidents.
- CEO Ju claims that meme coins exhibit characteristics of shamanism and religion, suggesting potential for success in the virtual asset industry through these mechanisms.
- Meme coins like LIBRA and MELANIA caused investor losses after sharp rises and falls, drawing criticism for issues including insider trading.
Amid several recent negative incidents related to meme coins, criticism has been mounting. Critics point out that meme coin investments are executed solely based on investors' beliefs without any intrinsic meaning.
On the 24th, Ki-young Ju, CEO of CryptoQuant, claimed via X (Twitter), "Meme coins are archetypes of collective unconsciousness. Animal meme coins embody shamanism's animal worship, while celebrity meme coins implement human worship akin to religion."
He added, "If one can create something people believe in, they can succeed as an entrepreneur in the virtual asset (cryptocurrency) industry."
Ju's remarks come amid ongoing debates about meme coins in the virtual asset industry.
Meme coins centered around celebrities or specific countries, such as Argentina's LIBRA, Central African Republic's CAR, MELANIA, and Official TRUMP, have caused significant losses to many investors after sharp rises and falls shortly after their creation, leading to negative public sentiment in the industry. LIBRA, in particular, faces heightened criticism due to reported insider trading and sniping activities.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
