Hyperliquid named trader James Win diagnosed via X that the memecoin market is virtually over. He explained, "I believe memecoins are over. They won't completely disappear, but market saturation will further fragment the total market capitalization. Making millions of dollars with a few thousand dollars is now like winning the lottery. The current structure is closer to a profit model for top participants. Communities are extremely fragmented. New metas alone are not enough, and the memecoin market must evolve into a new form."
