Many people still do not realize that the invasion and toxicity of MEME coins have caused devastating damage to the long-term, sustainable development of the Crypto ecosystem. Looking back at these two cycles, the FOMO craze of MEME coins often served as a condiment, appearing during the stagnation of mainstream technological innovation and hot narratives, acting as a release valve for market sentiment and capital frenzy. But this time is different; MEME is no longer content with being a supporting role. It has taken center stage, transforming from a condiment into the main dish, from an interlude into the main theme. This misalignment of roles brings not prosperity, but more disaster. So in this cycle, the familiar sector rotation market has disappeared, replaced by the MEME Season wheel battle of different camps like the BTC ecosystem, Solana, and BSC; by the frenzied extraction of attention from celebrities like Musk and CZ; by a MEME narrative that numbs the spirits of many unaware youths. This is not a rejection of the true MEME Cult meme culture, but rather a pathological imbalance in the proportion of market attention occupied by the conspiratorial, mutated "MEME": When developers look at the product protocols they have spent years refining, only to find their market value less than that of a three-day fast-tracked shitcoin project; When a large amount of capital flowing from some VCs, project parties, and exchanges shifts from infrastructure, applications, and ecosystem cultivation to platforms focused on producing shitcoins; When foundational innovations like modularization, chain abstraction, intent architecture, zkVM, and AI Agents are shattered by the impact of MEME coins just as they begin to show promise; When the vast majority of users discover that over 99% of projects in the Crypto industry are Ponzi schemes. They have never understood the main narrative of technology, and while they may not complain about MEME coins (willing to bet, willing to lose), they will question the entire Crypto industry. This collapse of trust is akin to the stereotype created by the initial ICO wave: "Blockchain is all a scam." And this time, it may be even harder to repair. Because the market has even torn away the fig leaf of "technological innovation," directly placing "speculative gambling" on the table, celebrating it with great fanfare. I ask you, when Crypto is completely equated with a casino, when all narratives are merely setups created by the house, who will still believe that this industry can change the world?