pure memecoins are a pyramid scheme that will collapse as soon as 

A) the same people keep winning (as this means the average person is losing $ consistently)

and

B) new buyers entering the system are exhausted (there's a limited amount).

A is already happening (KOLs are driving token prices top down) & not sure how much of B is left.

History rhymes - exact same thing happened with NFTs.

Building FOSS via @frames, /open-frames to help decentralized social win. a16z CSX23. farcasterchannels.com farcaster.id

I want to agree with you here but

a) I don’t think newer investors are savvy enough to know who’s making money and who isn’t so they keep thinking “I’ll get the next one”

and

b) it feels like people will continue to try to chase memecoins as long as they see others making “easy” money