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As 2024 kicked off, memecoins surged to the forefront, showcasing themselves as the top performers in the crypto arena. Events such as the spot Bitcoin ETF mania spurred a massive rally that benefited memecoins immensely. By March, however, this rally faced an abrupt halt. Market analysts, such as Travis Cing, founder of crypto asset management firm Ikigai, expressed concerns over the growing sense of “financial nihilism” among younger Americans. This sentiment, he noted, stems from a dire economic landscape, where the cost of living is climbing, and upwards mobility appears increasingly unattainable.