Some thoughts on the market trends for this cycle:

1. Meme played the role of DeFi in the last bull market. It brought a lot of new money into the crypto space. Coins like Doge and Pnut attracted a lot of new investments.

2. As the liquidity from memes overflows and the lifecycle of projects becomes shorter, the VC coin sector begins to rotate.

3. However, memes are likely to remain a continuous theme, but their popularity and funding will gradually be redistributed.