Memeland CEO Ray Chan predicts the meme coin industry will mature, reducing fraudulent activities. Despite current pump-and-dump schemes, the sector’s growth could lead to healthier practices and less reliance on influencers. Chan sees potential for increased mass adoption and innovation in Web3 through meme coins.
Memecoin price has significantly dropped recently, with whale sell-offs raising concerns among investors. The MEME token has followed a descending trend for the past week amidst broader market corrections.
Memecoin leverage trading protocol Wasabi raised $3M in a funding round led by Electric Capital.