I finally got home yesterday, and today I spent some time just sitting here thinking about what really went wrong with the market we all used to love. I get it. Markets evolve, environments change, and the way memecoins are traded today is completely different from what it used to be. I'm not against change, but I think I've finally narrowed it down to two things that really fucked up this ecosystem. Attention became everything, and deployers got lazy. Remember when teams would actually put some thought into launching a memecoin? They'd come up with an original idea, build a website, create a Twitter account, work on the branding, and genuinely try to figure out how to capture market share within the ecosystem. There was actual effort behind making something people wanted to be part of. And if you managed to get enough eyes on it, your chart would get absolutely slammed with buys. Now look at what we've become. A deployer wakes up, scrolls Twitter, finds some random narrative that might resonate with people, spins up a coin, bundles 20-30% of the supply, and attaches a tweet to the launch. Maybe they'll tag the original post. Maybe they'll use a second anonymous account to tweet something like "Holy shit, look what I just found" or "This could actually be the next runner." Pay for DEX, attach the tweet, and congratulations, you've officially launched your memecoin. That's it. That's the entire fucking business model now. And here's where I think things really went wrong. Why would a deployer spend weeks building something when they can launch 10-15 coins a day, bundle the supply, and make more money doing a fraction of the work? Some get traction, most don't. Doesn't matter. Move on to the next one. Rinse and repeat. The worst part is that this became the norm. New deployers enter the ecosystem, look at what's working, and copy the exact same playbook. Nobody wants to put in the effort anymore because the market has shown them they don't have to. So now we're sitting in a giant cesspool of D+ memes, recycled narratives, fake discovery tweets, and bundled supply, with everyone wondering why nothing has the same staying power it used to. And I think that's what bothers me the most. We used to trade memes that were trying to become something. Now we're trading launches that were designed to be sold. I'm not saying every coin back then was some masterpiece or that the old market didn't have its own bullshit. Of course it did. But at least there was an incentive to build something that people might actually care about tomorrow. Today, the incentive is to extract as much as possible before tomorrow even comes. I don't think people necessarily stopped loving memecoins. I think the people making them stopped giving us a reason to. And until that changes, I don't know how we get that old feeling back. Curious if anyone who's been around long enough sees it differently, because the more I think about it, the more I believe we didn't lose the culture overnight. We slowly rewarded the people who were killing it.