Ki Young Ju, CEO of CryptoQuant, has drawn comparisons between the memecoin market and the art market, noting that both rely on narrative-driven valuation mechanisms to drive price appreciation. Despite concerns about short-term volatility, including scams and rug pulls, he predicts the memecoin market is likely to mature over the next five years. The memecoin craze has sparked discussions about its potential as a new form of market, with some analysts suggesting it could evolve into a more stable and structured industry. Notably, Cheems has shown price resilience, while 99.9% of memes are reportedly down more than 85%.