Su Zhu: The current cycle's relative valuation is more effective in Meme coins than in VC coins

Su Zhu posted on X saying, "In this cycle, relative valuations are more effective in Meme coins than in VC coins because people who own Meme coins will sell their holdings and buy other Meme coins. However, even if one L2 is cheaper than another, those selling the more expensive L2 will not buy the cheaper one; they just sell it for dollars."