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I just saw the big shots talking about the crypto world, explaining it thoroughly, and it even felt a bit bleak. Everything is trash, nothing has meaning, and ultimately it’s just a transfer of wealth. I didn’t believe this before; I thought there were clearly technologies and innovative products on the chain. But over time, I realized there really aren’t many users, just people trying to make money. When a sector becomes hot, everyone rushes in, the funding game ends, and then they switch to another sector to repeat the process.

MEME is the same; everyone claims it’s about culture, consensus, and memes, but ultimately it’s still about finding a window of liquidity to cash out. Last year, we were saying MEME was the native culture of crypto, but looking at it from another angle this year, it feels like MEME is just a facade for a funding scheme—no VC taking over, no long-term narrative, just a short-term mutual slaughter. I used to think I could rely on experience to make a living, but now I realize it’s market sentiment that I’m relying on, and luck plays a huge part.