When a senior figure from a major exchange openly states in a community live stream, "Don't follow those Meme coins claiming celebrity endorsements; their success rate is pitiful, and the issuers' identities are untraceable," it's not just pessimism. It's an industry insider who has seen too many retail investors get chopped up, sounding the alarm with the harshest words. The Meme coin scene in 2026 has already taken a wrong turn—what was once a myth of "getting rich overnight with a good meme" has degenerated into a trap-filled hunting ground. The lie that "the bigger the fame, the easier the money" must now be thoroughly exposed.

Honestly, the rules of Meme coin play are incredibly simple: ride on celebrity hype to create FOMO, lure retail investors to buy in and push up the price, then the project team quietly withdraws liquidity and disappears. Sounds absurd? Yet, people keep rushing in one after another. Why? Because the historical cases are too tempting—one dog coin’s social media post surged by 300%, a coin with the same name as a political figure soared over 20,000% in a single day. These stories of "overnight riches" make people envious, but they overlook the mountains of corpses behind them.

The most terrifying part is that "concept coins" claiming to be from seasoned insiders have formed a complete scam industry chain. These projects either directly copy open-source code, give a familiar-sounding name, forge some fake photos, and craft an absurd story—then call it a day. Who is behind the coin? No one knows. Will they run away with the funds? An 80% chance. But this trick has proven repeatedly effective.