The incident involving the Solana-based Slerf meme coin’s $10-million bungle has sparked intense speculation. While the team said that the action was a mindless misclick, others speculate that it might have been a daring marketing stunt.
Not everyone views this development positively. Ki Young Ju from CryptoQuant, for instance, said that meme coins have a detrimental impact on the crypto industry.Ju argued that the chase for easy money through meme coins doesn’t contribute to overall progress within the industry, drawing parallels to the 2018 ICO burst, which demonstrated the limitations of such approaches.
Ju even went on to suggest that those who advocate for meme coins may lack experience with the negative consequences of easy money. Comparing the situation to the 2018 ICOs, the CryptoQuant co-founder acknowledged that while ICOs attracted new investors, they at least made attempts to develop products.
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