The memecoin trend that Donald Trump and his wife have joined may be coming to an end. Bitwise CIO Matt Hougan claimed in a post that the memecoin craze will end in six months.
Bitwise Chief Investment Officer (CIO) Matt Hougan said in a post on X that he believes Bitcoin, which fell below $90,000 to its lowest level in the last three months, will recover, but that the end of memecoins is coming.
Hougan stated that the market crash was caused by memcoins rather than Bitcoin’s performance.
According to Hougan, the crypto market is currently facing the decline of memecoins such as MELANIA, launched by the US First Lady, and LIBRA, which has been at the center of controversy after being supported by Argentine President Javier Milei. This decline was further exacerbated by the use of memecoins by the North Korean hacker group Lazarus, which carried out the Bybit hack, to launder stolen Ethereum (ETH ($2,477.71)).
At this point, Hougan stated that the news and negativity about memecoins contributed to the recent decline, and predicted that the memecoin boom would end within six months for these reasons.
However, Hougan argued that there is more upside to come in the broader perspective, with Bitcoin’s increasing institutional adoption, the rise of stablecoins, tokenization and the resurgence of decentralized finance (DeFi).
“What the crypto industry is digesting right now is the end of the memecoin boom. Melania, Libra and Lazarus Group’s use of memecoins to launder stolen ETH is going to kill them. Maybe not today but in 6 months.
The good news is that many factors are bullish, including institutional adoption of Bitcoin, stablecoins, tokenization, and a resurgence in DeFi. But until these factors kick-start the rally, Bitcoin and the market will remain under pressure for a while longer.”
What crypto is digesting right now is the end of the memecoin boom. The combination of Melania, Libra, and the Lazarus Group using memecoins to launder stolen ETH will kill it dead. Maybe not today, but within 6 months.
The good news is there are already things ready to replace…
— Matt Hougan (@Matt_Hougan) February 25, 2025
*This is not investment advice.
Continue Reading: Bitwise Explains: “Bitcoin (BTC ($88,543.46)) Will Recover But These Altcoins Will Be Over in Six Months!”
