According to online reports, Pump.fun co-founder Alon Cohen said that most technical altcoins have the same value proposition as Memecoins, but they usually have low liquidity, excessively high fully diluted valuations (FDV), and involve venture capital (VC) institutions, which often use retail investors as exit liquidity. Cohen was responding to a tweet that suggested that the Memecoin issuance on the pump.fun platform disrupted the price cycle of the altcoin market. Cohen countered that pump.fun existed long before the altcoin market fell in April 2024. He further explained the reasons for the collapse of the altcoin market in April 2024:"In the last cycle, retail investors lost so badly that they will not easily come back to invest in the so-called" financial future." Cohen believes: "Most people who have jobs don't care about technology. They care more about personal satisfaction." They want to make some money from the trade and also enjoy it. The discussion on social media highlighted the growing conflict between altcoin investors who focus on technical practicality and traders who simply speculate and ignore actual application scenarios.