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模因币生态系统的快速扩张
模因币生态系统正在迅速扩张，Raydium 的 LaunchLab 和 Bonk 的 LetsBonk 等新发布平台可与 Pump.fun 的既定地位相媲美。随着 launchpad 数量的增加，进入市场的模因币数量也在增加。由于该行业已经充斥着许多不同的项目，因此划清界限变得越来越困难。模因币项目的激增也提高了可能性。
市场风险与投机性质
来自 CoinGecko、Space ID 和 Neiro 的代表告诉 BeInCrypto，模因币的增加带来了拉高出货计划和地毯拉动等风险，这些风险与市场的投机性质密切相关。如果一个模因币启动板似乎还不够，那么现在有几个可供选择。Pump.fun 是 meme Coin 行业中第一个通过使访问民主化来彻底改变代币发行的公司。但现在，它面临着竞争。Raydium 发布了 Bonk's，而 Believe 也掀起了波澜。从那时起，模因币本地人。比 Pump.fun 的下降性能更令人担忧的是。这一趋势对已经不受监管的行业产生了重大影响，使大多数散户投资者蒙受了巨大损失。
模因币启动板的可访问性
当 Pump.fun 首次推出时，它引入了一个。这个想法很简单：如果你想推出自己的模因币，你几乎可以在几秒钟内免费完成。“The accessibility of meme coin launchpads drives both innovation and speculation, with each reinforcing the other. Speculation fuels market activity, drawing capital and participants who create a competitive environment. This pressure compels creators to innovate, developing compelling narratives, community-driven models, or unique token structures that resonate culturally or socially,” S, Neiro’s pseudonymous社区负责人告诉 BeInCrypto。
模因币的实用性问题
But when a sea of meme coins turns into a tsunami, finding projects with actual utility becomes an increasingly larger feat. “While it is generally accepted that meme coins don’t need any sort of utility as they are seen as projects that people can identify with or “vibe” with, the sheer number of them being launched does draw liquidity away from projects with products or use cases,“CoinGecko 研究分析师 Shaun Lee 说。这已经开始影响模因币，这些币利用其强大的社区支持在市场低迷中幸存下来。
市场流动性与品牌稀释
Unfortunately, the flood of thousands of new meme coins into the market has affected established meme coins such as DOGE and. These coins have faced brand dilution and, with liquidity spread thin, have been unable to break their all-time highs from the 2021 bull cycle,” Lee added.更糟糕的是，这大大增加了一个已经动荡的行业的投机层。最近的一份 Solidus Labs 报告揭示了大规模的欺诈活动。根据研究结果，大约在 Raydium 上表现出的特征。
知道这一点，许多代币的推出都是为了利用市场类似赌场的性质。
模因币启动板的担忧
It’s certainly very concerning. Meme coin launchpads capitalize on human greed and FOMO, which makes them the perfect place to launch pump-and-dump schemes, even if that’s not their original intention,”Shikova, Marketing Lead at Space ID, told BeInCrypto.Since thousands of coins are launched daily,, most of these projects typically end up defunct.关于这种现象的数据令人震惊。最近的一份 CoinGecko 报告显示，自 2021 年以来在 GeckoTerminal 上列出的大约 700 万种加密货币中，.这些崩溃大多发生在 2024 年和 2025 年。值得注意的是，仅在 2025 年就有超过 182 万个代币停止交易，大大超过了 2024 年记录的约 138 万次失败。
模因币行业的历史趋势
The meme coin sector has historically prioritized quantity over quality, reflecting modern market dynamics where attention is transient. Many coins capitalize on short-lived trends, sacrificing depth for immediacy. Launchpads amplify this tendency by streamlining token creation, resulting in many projects, most of which lack staying power,” S explained.由于看不到联邦法规，只剩下两种选择。启动板要么采取行动，要么交易员决定明智地做出投资决策。目前，尚不存在全面、具体的监管框架，这造成了拉高出货计划和地毯式拉货仍然普遍的环境。
监管框架的缺失
2 月，美国证券交易委员会 （SEC） 发表声明，表示典型的模因币交易不被视为证券。这种分类意味着这些特定资产的投资者通常得不到联邦证券法的保护。根据 Shikova 的说法，鉴于这些不存在的法规，launchpad 必须承担起责任。Right now, it’s not even clear which agency is responsible for memecoins, let alone what the rules should be. And realistically, it will take a long time for government agencies to catch up and understand this space properly. So launchpads need to self-regulate if they want memecoins to become a legitimate investment sector.否则，监管机构会进来彻底禁止它们，“她警告说。幸运的是，现有的方法可以提供帮助。在一个注重数量而不是质量的行业，Launchpad 有机会实施防止项目立即崩溃的保障措施。
透明审计与锁定机制
The only way to solve this is through transparent audits and also enforcing lock-ups for anyone launching a new token, so they can’t just close the project and take off with the money as soon as it pumps. And it’s the launchpads that are responsible for putting these rules in place– otherwise, the regulators will do it, and then the rules will certainly be much stricter,” Shikova told BeInCrypto.但是，这并不是一个放之四海而皆准的解决方案。即使有既定的法规和保护措施，交易员仍然承担着在投资前审查项目的最终责任。
投资者的责任
They can check out the team’s background (beyond whatever they say on LinkedIn), the project’s tokenomics and roadmap (if it even has these), and also, importantly, its community. You can typically tell if the community is just there for the short-term hype or genuinely believes in the project, and this often determines its longevity, especially when it comes to speculative assets like memecoins,” Shikova added.在使访问民主化并推动创新的同时，模因币启动板的激增无疑加剧了这个高度投机市场中的挑战。随着这些平台的持续发展，启动平台仍然有责任实施更严格的保护措施，个人投资者有责任进行严格的尽职调查以应对不断升级的风险。
