One crypto analyst attributed the decline to the common trend of memecoins plummeting when the price of Bitcoin falters. Another analyst linked the bearish trend to the humor simply running its course, suggesting that the novelty of memecoins may have worn off. Mati Greenspan, a crypto analyst and founder of Quantum Economics, stated that "there is too much value on memecoins, it's gotta end at some point, it can't keep going forever"