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