We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

CryptoQuant CEO Cautions Against Meme Coin Frenzy: Impeding Industry Advancement?

Share On Facebook
share on Linkedin

The Solana-based Slerf (SLERF) meme coin’s $10 million mishap has ignited fervent debate. While the team attributes it to a simple misclick, speculation swirls about it being a calculated marketing ploy.
Despite the ambiguity, the incident has stirred considerable buzz on social media and in the market, adding to the allure of the project and the meme coin sector overall.


However, not everyone sees this positively. CryptoQuant’s Ki Young Ju has voiced concerns, highlighting the negative impact meme coins may have on the crypto industry.

Meme Coin Frenzy: A Passing Craze or Genuine Evolution?
Venturing onto X (formerly Twitter), Ju voiced frustration, lamenting how meme coins with billion-dollar market caps often overshadow the earnest endeavors of dedicated teams striving to advance the industry with legitimate innovations.
According to Ju, the allure of quick gains from meme coins fails to contribute meaningfully to industry progress, drawing parallels to the 2018 ICO bubble, which highlighted the shortcomings of such speculative approaches.

While some argue that meme coins act as a gateway for new crypto enthusiasts, Ju questioned whether the potential financial risks justify entry into the crypto realm, particularly given the lack of tangible societal value offered by many “shitcoins” from the 2018 ICO era, which essentially functioned like a high-stakes casino.

Businessmen investor think before buying stock market investment using smartphone to analyze trading data. investor analysis with stock exchange graph on screen. Financial stock market.
Ju further suggested that proponents of meme coins may lack firsthand experience of the negative repercussions associated with easy money. Comparing the scenario to the 2018 ICO craze, the CryptoQuant co-founder acknowledged that while ICOs attracted fresh investors, they at least made genuine efforts to develop viable products.
In contrast, contemporary crypto developers seem more inclined to churn out meme coins rather than engage in substantive product development—a trend that Ju considers even more concerning than the proliferation of “shitcoin” ICOs.

Slerf’s Launch Misstep: Navigating the Fallout
Slerf, a meme coin distinguished by its sloth motif and Solana network integration, made headlines by amassing a staggering $10 million during its presale on March 18th. This token joins a growing list of projects utilizing presales and fundraising initiatives prior to their official launch, riding the coattails of Book of Meme’s recent success earlier this month.

However, disaster struck as the project’s developer inadvertently sent all the funds received to a burn address, effectively relinquishing control over the assets.

Nevertheless, despite this setback, Slerf has surged in popularity, boasting a remarkable $1.80 billion in trading volume over the past day and currently commanding a trading price hovering around $1.

Learn from market wizards: Books to take your trading to the next level

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch: