Rather than calling it dead, I'd rather call it a new stablecoin. A new era of stablecoins has arrived, after Ripple (XRP) which was the stablecoin for years, now it's Ethereum (ETH) turn to replace $XRP

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This is all because there are so many bullshit scaling solutions in the Ethereum (ETH) ecosystem, leaving people with so many alternatives to choose from, that the network activity is ultimately not as busy as it was in its early days.
How ETH going to solve this issue and maintain the king spot?
Maybe by creating a special grant program for meme token developers, maybe...
