Meme Coins on Weekends: How CONWAY Turned from Hope to Disappointment

Meme “funny” coins launched on weekends are among the most controversial phenomena in the cryptocurrency market. The latest example is CONWAY, a Meme coin linked to the Base network, which experienced a remarkable surge before crashing sharply within hours. This episode reflects the highly volatile nature of weekend meme coins and the risks they pose to investors.

Conway Research Project and the Controversial Ambition

Sigil launched a specialized AI application lab called Conway Research with an ambitious goal: enabling AI agents to earn money independently. The idea was for these agents to maintain their presence, evolve, and replicate themselves, using the profits earned to run sub-models on new servers, ultimately establishing a distributed AI network. However, the project faced criticism.

Vitalik Buterin’s Objection: “Just Trash”

Vitalik Buterin, the founder of Ethereum, launched a sharp attack on Conway Research this morning. He commented under Sigil’s post with a harsh critique, saying that increasing the gap between human interaction and AI does not benefit the world. He went further, stating: “You are now producing trash instead of solving practical problems for people. When AI becomes powerful enough to cause real harm, this approach will increase the likelihood of catastrophic consequences that are irreversible for humanity.”

Extreme Market Reactions: Sharp Rise and Even Sharper Fall

The market reaction was swift and severe. According to data from GMGN, a platform tracking decentralized data, the CONWAY token surged to over $12 million in market cap before experiencing a sudden reversal. The price plummeted sharply to just $3.6 million within hours. The 24-hour trading volume remained high at $18.5 million, reflecting intense market chaos.

Nature of the Coin and Its Connection to Sigil: Mystery and Controversy

It is important to note that the CONWAY token was not officially launched by Sigil itself but is community-issued. However, the coin is linked to a mechanism that automatically transfers trading fees to a wallet controlled by Sigil. Sigil has indirectly acknowledged multiple times on X platform that it receives a portion of these fees and announced plans to use them for project development. Some community members have accused Sigil of being the real beneficiary or even the hidden developer of the coin.

Warning About Weekend Meme Coins and the Trap of Quick Gains

Weekend meme coins represent a particularly risky category of digital assets. Most lack practical utility and are subject to extreme and unpredictable price swings. The case of CONWAY is a typical example of how viral meme coins, regardless of media hype or celebrity support, can quickly turn from hope to disappointment. Analysis platforms like BlockBeats remind investors to exercise extreme caution when investing in this volatile asset class.