[Analyst: Once trading volume recedes, the incentive mechanism of 'tokenized stock' concept Meme coins may fail] DeFi researcher Ignas stated in an article that the current 'tokenized stock' concept Meme coin narrative essentially relies on trading volume and fee revenue. Once trading volume shrinks, funds for dividends and buybacks will decrease accordingly, weakening holding incentives and potentially triggering sell-offs. Ignas pointed out that Coinbase's trading volume in Q4 2021 was $547 billion, which dropped to $145 billion a year later, a decline of approximately 74%. Meanwhile, Meme coin trading volume could potentially decrease by 95% in the future. Currently, Uniswap's trading volume has also shown a gradual decline.