I think I’ve seen an interesting perspective on the meme coin market. It’s something recently mentioned by Kim Seong-ho, co-founder of Hashed—namely that the meme ecosystem itself will never disappear. The only thing that keeps evaporating is investors’ assets.

Now that I think about it, that’s true. Many tokens that were tied to Ponzi schemes disappeared from the market in the past, but some have survived to this day. So what made the difference? This is exactly the area that investment firms like Hashed also pay attention to.

So what do the tokens that survive in the market have in common? They had community passion and faith at a near-religious level. In other words, their conviction mattered more than technology or utility. Isn’t this basically what the meme coin nature is, and something institutions like Hashed acknowledge?

In the end, the meme ecosystem will keep existing, and within it, investors will repeatedly enter and exit. The issue is who survives in the meantime. As Hashed’s observation suggests, it’s not the size of the assets, but the community’s trustworthiness that determines it.