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# Ark Invest’s Chief Executive: Meme Coins Are Destined to Implode
Cathie Wood, the leading figure at Ark Invest, anticipates a bleak outlook for meme coins, asserting they will ultimately become “valueless.” Nevertheless, she suggests that certain ones, such as the TRUMP token, might possess enduring resilience.
During a recent discourse on Bloomberg TV, Wood conveyed her disinclination to personally allocate funds to these coins. She posits that the majority of the trending tokens inundating the market – those countless creations stemming from internet phenomena and AI chatbots – “won’t hold significant value” in the future.
The originator of Ark Invest is placing her confidence in the more substantial, well-established cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) as opposed to meme coins. Wood perceives these assets as presently undergoing “rapid expansion” and anticipates their continued fortification over time.
Wood is advising traders to proceed cautiously when venturing into the meme coin arena, as these viral tokens are poised to be regarded as “insignificant” eventually.
“Experience is the best instructor, especially when it involves financial loss,” Wood remarked, adding that investors will come to understand that the SEC and regulatory bodies will not intervene to rescue them when these meme coins plummet. Despite this, Ark Invest Management maintains that specific tokens, including TRUMP (TRUMP), will “endure the passage of time.”
In the latter part of February, the SEC’s Division of Corporation Finance declared that the agency does not classify meme coins as securities. Instead, they are regarded as “novelties” and thus remain unregulated.
## Meme Coins Heading to Nothing?
At the time of this composition, the aggregate market capitalization of meme coins amounts to $51.6 billion. Last December, the collective market cap of meme coins attained a zenith of $137 billion. Since then, it has diminished by approximately $86 billion, a reduction exceeding 60%.
Undeniably, the market has already observed the downfall of numerous viral meme coins.
The LIBRA token, endorsed by Argentina’s leader, has experienced a steep decline of 94%, while Trump Coin has fallen almost 85% from its highest value. Blockchain information indicates that the meme coin collection of crypto personality Murad has diminished by more than 80% in a short period of two months. His possessions decreased from $54 million on the 18th of January to only $12 million by the 18th of March, even falling under $10 million on the 11th of March.
SPX, a digital currency in which Murad invested heavily, has collapsed from $1.52 to $0.39, an almost 80% decrease. Additional meme coins such as GIGA, RETARDIO, and MOG have also sustained considerable losses. Despite greater worldwide financial resources and a depreciating dollar, the meme coin marketplace displays no indications of revival, according to a study by Matrixport. Moreover, Pump.fun, a well-known meme coin platform, has witnessed a substantial drop in everyday earnings.
Essentially, the meme coin craze appears to be diminishing, with notable individuals and systems feeling the consequences.
