CryptoQuant CEO: Meme coins are the prototype of collective unconsciousness

Author: Vince Quill, CoinTelegraph; Translated by: Deng Tong, Golden Finance

CryptoQuant CEO and analyst Ki Young Ju recently stated that “ Meme coins are the prototype of the collective unconscious ” – a concept created by 20th-century psychologist Carl Jung to describe shared memories passed down from generation to generation and Symbols, these memories and symbols support a common human culture.

In two X posts on February 23, Ki Young Ju wrote that animal and celebrity Meme coins are the product of collective unconsciousness, while altcoins are the manifestations of collective consciousness. Ju added:

" The Animal Meme Coin reflects the shamanism that worships animals, while the Celebrity Coin embodies a higher religion that respects humanity. Human evolution is driven by a common belief - worship, group formation and cooperation."

“If you can create something people believe, you can thrive in the crypto industry as an entrepreneur,” he noted.

As far as human consciousness is concerned, the comparison between Meme coins and altcoins. Source: Ki Young Ju

The quantitative analyst's comments came in the wake of the Libra token scandal that caused investors about $107 million in losses, Argentina President Javier Milei's risk of impeachment, and Meteora Co-founder Ben Chow resigns.

Libra’s collapse has brought “fair issuance” tokens and memecoins to a close watch, with many describing the incident as the last nail of memecoins and calling for reasonable regulation of the industry.

Argentine President Javier Mile talked about the Libra scandal in an interview. Source: El Mundo

Does Libra herald the end of the memecoin craze?

After the Libra crash, venture capitalist Nic Carter said the incident heralds the end of memecoin and its appeal to retail investors.

The venture capitalist believes that memecoin’s core value proposition is that they are allegedly launched in the market fairly without an internal team or early investors.

This makes memecoin attractive to retail investors as it is a replacement for low-volume, high-complete dilution value altcoins peddled by venture capital firms, which use retail investors as exit liquidity.

Hayden Davis is one of the core figures in the issuance of Libra tokens. Source: Kelsier

"Memecoins is over. There will still be new token launches and there may be winners, but the era of the Memecoins is over," Carter wrote, saying investors' attention will turn to projects based on practicality.

According to GeckoTerminal, more than 600,000 tokens were launched in January 2025, with the vast majority of memecoins, which raised concerns about the dilution effect of too many cryptocurrencies competing for market share and limited investor attention.