Meme Coin Cycle Could Reignite as Macro Conditions Improve, Says Dragonfly Partner

In Brief:

Dragonfly’s Haseeb Qureshi believes the Meme coin market's low volatility is temporary and could surge again with better macroeconomic conditions.

However, he warns that the market is in a late-stage cycle, and investor fatigue is setting in.

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Dragonfly managing partner Haseeb Qureshi has suggested that the Meme coin cycle may not be over yet, despite the current low market volatility. In a recent X post, Qureshi stated that once macroeconomic conditions improve, Meme coin trading activity could spike again, as speculative trends tend to follow periods of economic expansion.

However, he cautioned that the market has entered a late-stage cycle, meaning that while Meme coins could see another wave of activity, the hype may not sustain long-term. Signs of trader exhaustion are already emerging, with fewer new entrants and diminishing enthusiasm compared to previous peaks.

Qureshi's viewpoint highlights the cyclical nature of Meme coin booms, driven by liquidity, speculation, and social sentiment. Whether a new rally materializes depends largely on economic recovery and investor risk appetite in the coming months.

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