CryptoQuant CEO Predicts Long-Term Growth for Memecoin Market

Ki Young Ju, CEO of CryptoQuant, compared the crypto meme coin market to the art industry, highlighting that both derive value from narrative and hype. He defended meme coins against 'scam' criticisms, suggesting the art world faces similar scrutiny.

Key points include:

Meme coins reached a $101B market cap in 2024, with approximately half attributed to $DOGE.
Meme coins captured 30.67% of global investor interest last year.
The number of altcoins surged from 3,000 in 2017-18 to 36.4M currently, leading to oversupply and altered market sentiment.
Only coins with strong narratives and use cases are expected to survive moving forward.

Investors should exercise caution and select assets carefully. The oversaturated market necessitates moderation in investment strategies.