Memecoins amuse and infuriate me in equal measure.
Amusing because of their wild pump and dump antics, surges that eat eye-watering zeros from the right-hand side of the decimal point, and their cult-like evangelical communities.
Infuriating , because they suck up and generally destroy valuable capital that could have been deployed into projects with solid usecases. They also tarnish the reputation of the space in my view.
Having said that, I have joined in the fun, I hold a little Shiba Inu snd Bonk and in the past I held Doge. But lets be honest , it’s gambling, pure and simple. If you know that,can afford that and want that, all is fair in love and war.
Whatever my view, I’m pretty sure this cycle will go down in crypto history as the “meme cycle”
Memecoins, and similar vaporwares that are prevalent in crypto space are the main reason crypto is not mainstream. This is the reason we are wasting away and not attracting any capital, because people/investors wants products and utility in the end, not useless hype