Memecoin Meta in Crisis: Fee Extraction, Deploys Over Holding
A growing chorus of on-chain traders is expressing frustration with the current memecoin meta — platforms extracting fees, KOLs front-running, and a culture shift from community building to deploy-and-farm that is 'zeroing out' even experienced players.
What we know
An account on X argues FOMO/PumpFun and Axiom/Terminal are locked in a fee war while normal traders lose on both sides. Another account on X jokes the trenches died when he stopped pumping coins, and calls out KOLs buying 3–4% supply at 3K caps and gaming callout reward systems. Several accounts on X RTs lament that 'bagworking' — the art of community content creation — is dying as holders become reward farmers. Another account on X takes the counter view, noting PumpFun is quietly building a comprehensive consumer crypto platform with a strong revenue engine.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.