PANews reported on March 15 that Ella Zhang, head of YZi Labs (formerly Binance Labs), said in an interview that while community-driven narratives provide investors with a fairer entry point, they have lost momentum over time due to weak fundamentals. "Starting from the end of the first quarter, interest in venture-backed tokens began to decline, while the popularity of meme coins soared, leading to the so-called meme coin craze." "Pump.fun and similar platforms are reshaping early altcoin investments, making them more accessible, more transparent, and more community-driven. These platforms focus on meme coins, experimental tokens, and community-driven projects, making it easier for anyone to launch and participate in new crypto assets."

However, in recent months, this trend has begun to reverse. Due to weak fundamentals, they have lost momentum over time. "According to CoinMarketCap data, this trend is now slowing. The ratio of meme market capitalization to non-meme altcoin market capitalization has been declining, indicating that funds are gradually flowing back to non-meme coins. We believe this is a natural market cycle - while community-driven narratives can generate momentum, long-term value ultimately comes from strong fundamentals."