On March 15th, Ella Zhang, head of YZiLabs (formerly Binance Labs), said in an interview with BeInCrypto that while community-driven narratives provide a fairer entry point for investors, they lose momentum over time due to weak fundamentals. Ella Zhang said: From the end of Quarter 1, interest in VC-backed tokens began to decline, while the popularity of Meme Coin soared, leading to the so-called Meme Coin frenzy; Pump.fun and similar platforms are reshaping early-stage counterfeit products coin investments to make them more accessible, transparent, and community-driven. These platforms primarily focus on Meme Coin, experimental tokens, and community-driven projects, making it easier for anyone to launch and participate in new crypto assets. In recent months, however, that trend has started to reverse, and while Meme is easily accessible, its short-lived popularity has prompted traders to return to venture-backed counterfeit products. According to CoinMarketCap, this trend is now slowing down. The ratio of the market cap of Meme to the market cap of non-Meme counterfeit products has been declining, indicating that money is gradually flowing back into non-Meme coins. For any asset to have lasting/growing value, it [requires] one or more underlying services, businesses, products, technologies or new innovations to drive prices up. Without fundamentals, value cannot be maintained. Ella Zhang said.