PUMP FUN isn’t killing memecoins. We are. And the past 7 days have exposed everything that’s wrong with the trenches. This past week has exposed so many flaws in the memecoin trenches and has probably been one of the worst weeks for their reputation in a long time. Just two months ago, we were flying. Dreaming about what was next, building our cases for another massive onchain bull run. New narratives were emerging, people were actually believing in something again, and we were sending coins back to valuations we hadn’t seen in months. Fast forward to today. We’re talking about creators launching coins and leaking their private keys, scammers getting paid $30K to call and bundle low-cap coins, companies hiding behind their T&Cs to do whatever they want, and an endless amount of drama. And the worst part? None of this is new. This is probably the 6th or 7th time I’ve watched this exact cycle play out. So let’s address the elephant in the room. PUMP FUN. I see PUMP FUN the same way I saw BLUR during the last NFT bull run. They’re not the ones killing memecoins. They’re simply accelerating a process that would’ve taken 100x longer without them. They’ve made launching tokens easier, faster, and more accessible than ever before. But they’ve also accelerated every single negative aspect of this market. The real problem isn’t necessarily the platform. It’s us. CT. Most coins nowadays don’t run because they’re genuinely interesting or have something worth believing in. They run because we, or some cabal, decide to bid them. We complain about bundled launches, insider allocations, fake communities, and obvious rugs. Yet we’re the same people buying them. We’re the ones giving these people liquidity, attention, and an exit. And as long as that continues, nothing will change. Think about it. If we collectively decided to stop buying obviously bundled coins, stop rewarding blatant scams, and instead put our attention and capital behind genuine projects and people who actually want to build something, the entire incentive structure would change. Suddenly, these so-called KOLs wouldn’t be able to launch their 50K rugs every other day. They’d actually have to wait, find something worth believing in, and size into projects like everyone else. They’d have to make money by being right, not by having an audience they can dump on. And that’s exactly how it should be. Somewhere along the way, we went from trying to find the next big thing to trying to be earlier than the next guy who’s going to dump on us. Nobody wants to hold anymore. Nobody wants to believe anymore. Everyone wants to be first in and first out. And then we wonder why nothing lasts. The funny thing is that memecoins were never supposed to be this complicated. They were about communities, culture, attention, and people collectively believing in something completely ridiculous. That’s what made them fun. That’s what made them powerful. And that’s what brought so many of us here in the first place. I’m not saying we can eliminate scams or that every coin needs some revolutionary purpose. This is still the most speculative corner of crypto. People will gamble. People will lose money. That’s part of the game. But there’s a difference between speculation and a market where the only profitable strategy seems to be exploiting the next person. We can’t complain about the state of the trenches while actively rewarding everything that’s destroying them. And I don’t think PUMP FUN disappearing tomorrow would magically fix any of this. The same people would launch the same scams somewhere else. The same cabals would find another way to extract liquidity. The same KOLs would find another audience to dump on. Because the underlying problem wouldn’t have changed. Our incentives. Our behavior. Our willingness to reward short-term extraction over anything that could actually last. I’ve seen this cycle too many times to believe memecoins are suddenly dead. They aren’t. But if we want another real onchain bull run, we need to give people a reason to believe again. Not another manufactured narrative. Not another bundled launch disguised as organic demand. Not another influencer pretending to be your friend while selling into your buys. Actual belief. Actual communities. Actual culture. The market ultimately rewards what we collectively decide to value. And right now, we’re rewarding the wrong things. Maybe it’s time we change that.

I Put My Entire College Fund Into ONE Coin. $5K → $20K ✅ Now I’m trading my way to a Ferrari 🏎️