Art And Meme Coin Market Economics Similar: CryptoQuant CEO

Meme Coin Market And Art Market Share Similar Economics, Says CryptoQuant CEO Ki Young Ju

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Updated: 27 January 2025

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CryptoQuant CEO Ki Young Ju says the meme coin market and art market share similar economics and both employ valuation mechanisms that drive prices based on narratives.

“Both markets legitimize intangible value through narrative,” he said in a Jan. 26 X post. “If the very foundation of the meme coin market is considered a scam, then, by the same logic, the art market must also be viewed as a scam,” Young Ju added.

Meme Coin Market Predicted To Mature By 2030

Young Ju went on to predict that the meme coin market might mature by 2030. While the hype around these light-hearted crypto tokens might fade, he believes that the market for meme coins “will not disappear.”.

Until the meme coin market starts to mature, the CryptoQuant CEO warned that “many unsightly elements remain.” When it comes to the short term horizon for the meme coin market, Young Ju said these tokens are currently “nearing the peak of inflated expectations.”

He concluded his post by saying that, “Eventually, the market will enter the trough of disillusionment, followed by years of gradual maturation.”

Meme Coins Dominated The Crypto Market In 2024

A December report from CoinGecko shows that meme coins were the most popular narrative in the crypto market last year, and captured over 30% of global investor interest. In the last 24 hours, the capitalization for meme coins dropped more than 9%, bringing the total to below $100 billion as of 1:23 a.m. EST.

Despite the recent drop in valuation, the meme coin sector remains one of the most valuable categories of crypto assets. Much of the market’s capitalization is driven by legacy token Dogecoin (DOGE), which boasts a capitalization of more than $47 billion.

However, DOGE’s dominance in the market could be challenged soon. As seen with the launch of Official Trump (TRUMP), which rapidly ascended the crypto ranks to become the 4th largest meme coin by market cap shortly after its launch, there is the possibility that new tokens will change longstanding rankings in the market.

Presale tokens such as Flockerz (FLOCK) and Wall Street Pepe (WEPE) are two potential candidates that might challenge DOGE’s dominance.

The Flocks partying until the very last minute! 🐦🚀⚡️

14M Raised! 🔥 pic.twitter.com/tyWtFk7ZoI

— Flockerz (@FlockerzToken) January 26, 2025

FLOCK has raised more than $14.2 million, and is gearing up for its exchange debut in just 7 hours. Meanwhile, WEPE has raked in over $61.3 million through its blockbuster ICO, and is offering a last chance to buy before its launch in 20 days.