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What's your opinion on this? Do you think the "meme" coins craze will move the industry away from being a utilitarian one to a speculative one? Will the hype last forever? Do you think crypto will do fine with "meme" coins in the way?
Your input would be greatly appreciated. Thanks in advance.
I believe the market would be better without the existence of most memecoins. Most of memecoins are just scams and attempts to grab cash from investors and then run away with all the actual coins and tokens. Though, there are some projects of memecoins which I would be okey with, like Dogecoin and Shiba Inu.
The rest of memecoins make this market to look bad in the eyes of most serious investors. How are we supposed to expect institutional investors to take this ecosystem seriously when they take a look at it and see a bunch of dog coins, Elon coins and shitcoins all around?
Also, we cannot underestimate the impact of the fees on people who just want to transmit value, as it was initially intended in their white papers. I believe memecoins and shitcoin will be always there, but we will reach a time when they will start to lose relevance, probably when we are again in a bear market, when outsiders do not longer pay attention to crypto/shitcoins.