Bitwise co-founder Matt Hougan predicts that the memecoin boom is coming to an end due to its ties with malicious activities from criminal groups and insiders. He suggests that institutional Bitcoin adoption, corporate stablecoin integration, and tokenization will replace memecoins. Hougan specifically points out the links between memecoins Melania and Libra and the Lazarus Group's use of memecoins to launder stolen ETH. Recently, Bybit, a major cryptocurrency exchange, was hacked by the Lazarus Group, who used memecoins for money laundering. Despite the decline of memecoins, there are applications for memecoin ETFs currently undergoing regulatory review.



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