The existence of pump-and-dump coins and quick-flip/scam schemes stems from market demand. > For funding providers of pump-and-dump coins: Pump-and-dump coins are a form of investment—a potential way to achieve monthly returns of over 10%. This is exactly what capital providers want. > For retail traders: Retail traders’ attention spans are shrinking; they simply cannot hold assets long-term. Therefore, they seek high-cap, high-volatility assets. This translates into the strategy: “holding time = geometrically increasing risk.” As a result, the market consensus favors short-term, fast-turnaround trading methods—namely, derivatives and memecoins. You could say the consensus around memecoins is the consensus of a mob. But from the participants’ perspective: As long as someone else is willing to buy later, they will make a profit. It’s like betting on TikTok’s algorithm: The first person to see a video gets paid by everyone who sees it afterward. In this case, what people are really trading isn’t the coin itself—it’s the content distribution algorithm. In other words, what they’re trading is the narrative. > Where there is demand, there will always be supply. All these derivative pump-and-dump coins and on-chain quick-flip scams? They’re exactly what retail traders want—and exactly what they get.