Odaily Planet Daily News Messari data engineer Mike Kremer said that Meme coins are the "most extractive crypto phenomenon" since the IC0 craze in 2017. He believes that while speculative bubbles and assets have always been part of the crypto ecosystem, retail investors' pursuit of the latest hot spots in crypto always "leaves some residual value." Kremer said: "In the DeFi season, projects like Uniswap Labs launched protocols that provide real utility to the crypto economy. When the speculative frenzy subsides, these tokens still have potential value because they are associated with functional and valuable services." However, he pointed out that Meme coins have "more destructive dynamics." "Here, insiders or cartels create tokens like supercumrocket69, hype them up, and attract retail investors to rush to buy these 'revolutionary' new assets." He added that once the price rises, insiders will sell their holdings, making the tokens lose their real value or utility. "The whole process is a zero-sum game, and the value will not only be redistributed, but also destroyed." (Cointelegraph)