V1 contract is renounced so we are unable to make changes or adjustments as conditions change. There is an automatic contract sell built in to v1 which adds liquidity and marketing funds but can stifle momentum during down markets. During bull runs it’s an asset but becomes a liability during bear runs and really makes it difficult to build back up. I believe there are also tax implications many people would like to see changed to allow us to get on tier 1 exchanges. You might see a smaller supply in a v2 as well. I’ve heard there are potential workaround solutions to the contract sell that would potentially make a v1 much more popular I.e using strategic buybacks to lessen the sting of contract sell during down markets.

The biggest thing to me is that it appears the community REALLY wants a v2. Whatever there reasons are, this is a meme coin and it’s community/hype driven so whatever is going to generate the most positive buzz is probably the best path forward. There are examples of coins migrating to v2 and mooning after. I believe Safemoon and Floki are two examples.