I saw some people in the English community say that Meme Coin destroyed this cycle. Although I have been advocating for "technical narrative+long termism" most of the time, I still want to objectively sing the opposite tune: Meme Coin did not "destroy" this cycle, but acted as a market catalyst to accelerate industry maturity: 1) The market has transitioned from "technology is king" to "attention is king", and Meme Coin has become the most intuitive manifestation of this transformation. Most technology narrative projects often have a Roadmap Deliver cycle of three to five years, and the market no longer has the patience to wait, believe, and entrust, so it has given Meme Coin a time window to attract liquidity through the short-term wealth Fomo effect. 2) Meme Coin has forced the self innovation of technology narrative. The internal rolling mode of VC coins' "technology packaging" in the past has entered a dead end, and the era of harvesting leeks through financing valuation, technology packaging, and concept stacking is over. Technology projects are forced to return to real delivery because investors have already tasted the sweetness of "simplicity, clarity, and clear wealth effects" in Meme Coin, and can no longer accept projects that are "technically complex but have not been delivered for a long time". 3) Meme Coin has expanded the boundaries and foundations of the entire market, and even the most sophisticated technological narrative can only attract a portion of the elite who can understand it. Mass Adoption requires a simple and easy to understand interaction method that can quickly generate consensus. When a large number of ordinary users enter the market through Meme Coin, some of them will inevitably engage in deeper ecological exploration, which precisely brings an unprecedented incremental user pool to technology projects and solves the long-standing dilemma of "no one using" technology projects. 4) The Meme craze will not cover the entire cycle, and the market vitality it overflows will benefit most of the crypto ecosystem. The essence of hot money pursuing profits determines that Meme Coin cannot sustainably generate wealth effects. When most people have experienced the duality of short-term rapid wealth and zero returns, they will naturally seek more balanced investment targets (tending towards more stable investors). At that time, technology projects that truly solve practical problems, establish user stickiness, and have clear business models will undergo valuation restructuring, completing the transformation from concept to value. So, for the narrative of technology, this is not the end, but the beginning of Nirvana and Rebirth. 5) Meme Coin is a complete overhaul of the high FDV and low circulation model of VC coins. The financing model dominated by VC in the past has created a distorted market structure of "high valuation and low circulation", leading to a widespread decline in TGE. This market structure has almost left no room for ordinary investors to hold coins and rise, stifling the Crypto dream of individual investors to become rich by holding coins. On the contrary, despite the enormous risks, Meme Coin, with its transparency, simplicity, and equal participation of everyone, has rekindled the vitality of the market and brought it back to a more fair and transparent competitive environment. It is difficult to say that the shrinking market space and forced exit of some VC institutions are not unrelated to the increasing mainstream of MEME coins.