BONK core contributor says most memecoins will not last

BONK core contributor Nom pointed out that most memecoins will not survive for long, speaking at the Consensus 2026 event in Miami. According to CoinDesk, Nom compared trading new memecoins to high-risk sports betting, adding that most projects lack the capacity to navigate regulatory processes such as exchange listings or ETF applications. He also stated that the crypto market is stuck in a cycle of attracting short-term capital through airdrops and point programs, only to see network activity collapse once those incentives are removed.