On-chain memes are hard to play now. One key reason is that the tools are getting more and more advanced, and everyone is figuring out how to play the game. If it doesn’t generate profits, it’s a zero-sum game—that’s just a rational judgment. You say hyper and pump generate profits, but it still relies on a group of people gambling and playing with junk to sustain it. Shitcoins are the real underlying source of revenue in this industry. Will this change in the future? Maybe. I’m just talking about the current situation and history. So, the next small-cap curve to chase lies in finding brand-new ways to mass-produce new junk. When everyone knows how to game inscriptions, inscriptions are no longer fun to play. If you keep trying BTC DeFi, it won’t work well either. When everyone knows how to game SOL memes, even the frontrunners can’t make money anymore. It doesn’t matter how many better tools you have—they won’t help. I’ll still hold the on-chain memes I’ve already bought, but I’ve always emphasized that I won’t allocate large funds unless the first wave of wealth effects appears. Only then will I go for the second wave. That’s the core reason. This is the twilight of memes. Don’t be sad—it’s just a reflection of countless big and small cycles in the crypto space.