On February 17, Dragonfly managing partner Haseeb Qureshi said in a post on social media X that the current low volatility of the Meme coin market may only be a temporary phenomenon. He believes that once the macroeconomic situation improves, the meme coin trading cycle will be active again. However, Haseeb also pointed out that the current Meme coin market has entered a late stage, and market participants seem to be weak.