Bitwise co-founder Matt Hougan predicted the demise of memecoins due to the asset class being closely linked to scandals and hacker groups. For example, according to Hougan, North Korea's Lazarus Group, which uses memecoins to launder stolen ETH, will destroy the sector within six months.
At the same time, the co-founder of Bitwise explained that the “death of the memecoin ecosystem” will not lead to the collapse of the entire digital asset industry.
What the crypto industry is experiencing now is the end of the memecoin boom. The situation with Melania, Libra and Lazarus Group will finally finish off meme tokens. Maybe not today, but within 6 months, - said Matt Hougan.
The cryptocurrency market has been experiencing a major downturn lately. According to CoinMarketCap, the leading memecoins have been performing poorly in recent days, but are now seeing a slight recovery.
Dogecoin , the largest memecoin by market cap, has fallen 16,45% over the past seven days but is up 3,78% over the past 24 hours. Over the past XNUMX hours, the memecoin Shiba Inu grew by 5,62%, and Pepe by 8,79%. At the same time, token TRUMP has fallen 22,81% over the past seven days and shows no signs of recovery.
Despite Matt Hougan's belief that the memecoin sector is dying, ETF based on meme tokens could become a reality in the near future. The US Securities and Exchange Commission recently received applications to launch Dogecoin -fund.
