Odaily Planet Daily reports that DeFi researcher Ignas posted on the X platform stating that the hype around Robinhood’s meme coins and tokenized stocks is cooling off. He said the tokenized stocks’ TVL has remained flat for two consecutive weeks, and the number of tokenized stocks being burned has already exceeded the number issued. Ignas further said that if trading volume slows down further, a decline in returns could weaken holders’ willingness to hold, increase selling pressure, and cause LPs to exit—leading to further liquidity contraction. He added that he has already exited the relevant LP positions because yields have dropped sharply, and he believes the market needs new catalysts to reignite the rally. Meanwhile, he noted that tokenized stocks on Solana still appear to be rising, and speculated that the trend of capital shifting from Robinhood to Solana may be more sustainable.

Ignas added that Meme coins belong to a “single-cycle trading” pattern. Investors may trade them, but should not hold them long-term. WIF was a representative Meme coin from the previous cycle, but today both its price performance and market attention have clearly declined. Once a Meme coin loses market attention, it often signals the end of the trend. FARTCOIN faces a similar situation. DOGE is one of the few exceptions that has crossed two cycles, but it is no longer a strong pick at present. Meme coins’ short life cycles differ from Bitcoin: Bitcoin can continuously form new market narratives and serves as a reminder not to develop long-term holding dependence on Meme coins such as ZCAT and CASHCAT.