According to Flood (@ThinkingUSD), experienced memecoin traders are increasingly recognizing manipulation risks in memecoin markets, prompting a shift toward trading perpetual futures contracts. This trend indicates that while some traders may successfully adapt to the more liquid and transparent perp markets, many may not achieve the same results due to heightened competition and leverage risks. This migration could impact memecoin liquidity and volatility, while increased perp trading activity may influence funding rates and overall derivatives market dynamics (source: Flood on Twitter, June 7, 2025).