MEMECOINS ARE NEVER COMING BACK

Summary from the TLDR Crypto newsletter

Memecoins on Solana are effectively dead, with high-profile rugpulls like LIBRA and MELANIA ruining investor confidence. Unlike utility tokens or even NFTs, memecoins lack dedicated holders who believe in an underlying project, making them purely momentum-based investments that collapse rapidly with dwindling excitement. Nearly $4B has been extracted through trading fees, MEV, and insider profits — comparable with last cycle's NFT boom.