"Meme" coins are ruining everything

[Abiky]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

[1714705651]

1714705651

[mk4]

Some memecoins will stay simply because of internet culture, most will crash and burn.

Personally, I don't find them useless and I don't see them "ruining everything". How are we going to expect the masses to be able to use these networks if memecoins are causing them to become unusable? Memecoins are the perfect stress test for these blockchains so everyone can improve the current networks we have.

[Ben Barubal]

     Thanks, OP, for making this issue in this section about that. In my personal understanding of thinking, I think this is also the bull we are facing, and it looks like meme coins today.

     It is just a matter of observations. If 2017 had been an ICO season, it would have been a period of playtoearns or defigames, metavers and NFTs, and now meme coins. So as I see it, it doesn't seem like the meme is ruining some of the crypto. The development of the Sol Network is just as good as the development of the Sol Network, so many memes are usually under SOL because the fees are cheap.

[electronicash]

its manipulation to the masses where memecoins attract regular people into crypto and that they are going to invest the very little they have into the market and when they see that their crypto wallet looks better like that meme above, they invite friends to invest in memecoins.

memes are convincing just like this https://www.youtube.com/watch?v=KTf5j9LDObk 

[tsaroz]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

This is a valid concern. Network congestion and transaction fees had been one of the limiting factor on rise of a coin price. Sometimes people are not being able to sell on the spike just because they can't transact. There have been issues of networks being clogged up when there's a trend on some memecoin. It seems meme coin are indeed much popular and most of the people are speculating and trying to get rich quick than thinking about the use of blockchain and crypto tokens as utility. And this meme frenzy is far than over. Like you said, improvement on scalability and availability of options would make it easier. Like Ethereum network would have been too clogged if all the Solana memes were generated over it. Solana has been able to handle it while Ethereum still getting a fair share of transactions. Bitcoin's transaction cost and speed too have improved with full segwit adoption.

[goaldigger]

They are not ruining everything but they serve their own purpose.
Many are still making money with the meme tokens despite of being manipulated and hyped. If you’re into the meme token then you can see this as an opportunity to make money but if you are a victim of scam meme token then you’ll see a different description of the meme tokens

[wheelz1200]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

This won't last forever.  These "projects" are completely baseless and pointless.  As with other fads people move on to the next best thing.  So many people will be left holding these bags of absolute garbage.  It's temporary and honestly slows the bull down for other real projects to give more people time to load up.  Consider it an opportunity that these dumb memecoins are constraining the real bull.

[d5000]

I'm not much a friend of meme tokens but also not concerned too much about that. Meme coins come often in hype waves. The hype wave of Bitcoin meme tokens was mostly last year and has already very likely passed its heyday.

Look for example at the BRC-20 category on Coingecko. Meme tokens' performance in the last week have been almost universally negative:

- PUPS -28.1%
- PEPE -21.1%
- PIZA -4.8%
- MEME +2.3%
- NOOT -15.5%

The current hype wave seems to be at Solana, home of one of the most "hilarious" memecoins Dogwifhat. It got a big pump today (after having fallen a lot in the last weeks) and reached a new ATH, but it seems the period of astronomical growth is over. Once investors notice that many more will take profit and it will be difficult to continue to grow. And this could be the end of the Solana memecoin hype wave.

The "stress test" idea is quite good, I see this kind of tokens also as a test if the incentive mechanism for fees of a chain works or not. Wonder if memecoins will make it to "fee-less" blockchains.

Best meme coin is of course DOGE which has its own blockchain and thus shouldn't bother anyone on other chains

[goldkingcoiner]

Meme coins and NFT's are part of cryptocurrency, whether we like it or not. They are simply too popular with whatever this generation is. I think we should avoid them in order to avoid financial ruin. They are not serious investments.

[kamvreto]

The memecoin hype like it is now is a crazy hype, with the emergence of lots of new memecoins that do not have any utility it will disrupt the network and make the network even more congested and in the end the costs will be more expensive. But we can't stop it, there will be a time when the network will not be so congested and fees will be much cheaper. but this could be a challenge for developers of each network so that they can overcome the spike in transactions due to memecoin, the network will be better and better prepared. It's just a matter of time and there won't be any significant impact.

[Zaguru12]

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?

Seriously I will say the hype will continue to raise over time for memecoins because the number of investors looking for those memecoins to get rich quick are definitely growing and currently they are more than those investors in this space than people solely investing for the utility sake. When you look at the whole trend of memecoins coming into a new ecosystem you will notice that some of this memecoins are incorporated just to generate more attention to that ecosystem just like how the Solana ecosystem is gaining a massive turnover by meme coin hunters.

I think developers will continue to tweak their ecosystem protocol to actually allow or accommodate the memecoins so yes this space will definitely do fine even if they continue to increase the number of memecoins

[SamReomo]

If I'm not wrong then almost 90% or more of those meme coins are either useless coins or are rug-pull schemes. They are seeing growth because of the greed of the investors and that's why they are able to ruin everything but I'm quite sure that such intensity of ruining will not last for longer.

This is basically known as meme season by some people and the greedy developers are making those meme coins only to rug-pull greedy investors. Both the investors and the developers are greedy and that's why it won't be wrong if we call it greed season.

The worst thing about the huge number of those meme coins is the ease of creation. Anyone with $1000 or more can easily created and mint those meme tokens. Most of those are popping on Solana blockchain, and on that blockchain creating of a meme token is a child's play these days.

[Reatim]

It is not only memecoins that are being released too much
but also just altcoins in general. I think memecoins are a great way
to invite in more investors however I do see the logic behind that
it clogs the way. I think we should find the balance between
the two features. Memecoins nowadays are becoming more innovative
so I don’t think they are completely useless

[Sophokles]

Meme coin is always criticized as a shit coin or useless coin in the market which is true i think. But right now what i am seeing is that its been evolving, and all the ecosystem is now having their own meme coin and they are using them to incentive different events. I saw one of the meme projects even partnered with a popular mobile company. Not only that, some of the meme coin is trying to gamefi their project, and PUFF is the first of its kind. They are calling it meme 2.0, and I can see why. If something good is coming out of something considered to be worthless we should appreciate it. At least it is getting some meaning of its existence.

[Hispo]

...

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.

[GreatArkansas]

For me, this is just clearly a sign we are already in a bull market. Just think about before in Ethereum, about crypto kitties which make the Ethereum network clogged also.
This is also a good time to stress test these networks if they really can handle high-traffic transactions. Good opportunity to improve different networks right now.

[hugeblack]

Best meme coin is of course DOGE which has its own blockchain and thus shouldn't bother anyone on other chains

Also, the definition of memecoin has become very loose, there is nothing that identifies this group except to have a distinctive or stupid name like PUPS PEPE KPKP ZOZO MOMO and so on, the image of the coin is a joke, a good promotion on social media that it is NEXT DOGECOIN and an pumping of the price. There is nothing real connecting all these projects, and most of them have no developers, but rather tokens on different blockchains.

[avikz]

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 cryptos have already become a speculative asset than a currency system. Memecoins are clogging the ETH network and ordinals are doing the same for Bitcoin. Honestly, these needs to banned if we really want to see cryptocurrency being used as a currency.

I think a new kind of consensus system needs to be built within Bitcoin or ETH network. Whenever someone wants to publish a new token coin or NFT, that would need to go through an approval system where 51% of the miners need to approve it. Otherwise, the nuisance of such things will only grow.

[Text]

These speculative trends will come and go, they have introduced more people to blockchain technology, but their impact on network congestion and transaction fees is a valid concern. They have attracted attention due to quick profits, but their hype is not sustainable in the long run. Like many trends, it could fade over time. However, it’s also possible that these coins could evolve and find their niche within the crypto ecosystem.

I think the underlying technology and potential for real-world utility remain strong. Many people still use blockchain technology for practical, everyday purposes such as DeFi and smart contracts.

[Wexnident]

~

I'd say the only thing being ruined by meme coins would be the idea of noncrypto people about, well, crypto. Can't say much about them clogging the network, don't really know the intricate details about how it works specifically anyway. And it being utilitarian/speculative, I'd say most would consider it as speculative really.

If I were to be asked if it'd be better for there to be memecoins vs not, then I'd definitely go for not. Sadly I don't think it will because of how the culture of the internet works. Crypto is much more friendly after all compared to stocks so it's no surprise why stuff like it popped up and became famous.

[Kelward]

Meme coins and NFT's are part of cryptocurrency, whether we like it or not. They are simply too popular with whatever this generation is. I think we should avoid them in order to avoid financial ruin. They are not serious investments.

I think that memecoins is a trend now, and going into the bull run many newbie investors are lured into investing in hyped get rich quick schemes projects, so I don't see memecoins going anywhere soon, they're part of cryptocurrency whether we like it or not. We have a few reputable memes like dogecoin and Shiba Inu, but majority of them are scams, still people will gamble their funds to buy, another scam that I don't understand is NFT, but they're still thriving in the crypto space, I'll just stick with Bitcoin and reputable altcoins.

[Abiky]

Some memecoins will stay simply because of internet culture, most will crash and burn.

Personally, I don't find them useless and I don't see them "ruining everything". How are we going to expect the masses to be able to use these networks if memecoins are causing them to become unusable? Memecoins are the perfect stress test for these blockchains so everyone can improve the current networks we have.

That's a good point. "Meme" coins often attract newcomers into crypto/Blockchain tech because of their inexpensiveness. I understand they're not a good long-term investment, but at least they're a great way for people to learn how crypto works. If developers improve on-chain transaction capacity, they must do it carefully to avoid sacrificing decentralization in the long run. That's where L2 networks come in. If all "meme" coins lived on L2, we could experience lower fees and faster settlement times on main Blockchain networks. Shiba introduced the "Shibarium" L2 network, while some other "meme" coins are moving to ETH-based L2s such as Base and Arbitrum.

Ultimately, the market will decide which coins stay and which go all the way down the drain in an instant. Just don't go crazy spending all of your life savings into "meme" coins, and there should be nothing to worry about.

[Mate2237]

Really what you observe is the truth. All thees memecoins and airdrops are just disturbing the cryptocurrency ecosystem market and also the networks. Till today I am still confused of what really happened to my purchase of Ethereum last two weeks. I bought Ethereum and the transaction was even almost bigger than the amount I received. And before then I have been trying to get some Solana but the network was over congested. So these days almost all the networks are congested. Even bitcoin network is still high because the last time when I made a transaction of 0.0043 and the transaction fee was $4.89 and that is not the normal transaction fee I new in bitcoin when I started this investment.

They said it is the ordinals that are disturbing the bitcoin network now my question always is the developers of bitcoin can't stop the ordinals from the network and this network issue of bitcoin is the one making the other Meme coins to have population.

[Churchillvv]

I thought everyone would be ready for this since we know how manipulative this memecoins can be in the market, the hypes are always over exaggerated and hence cause a lot of tx fees to rise.

Perhaps they're not worth holding for long term because eventually a 70% is going to die off the market because they are most pump and dump coins so just a few will survive and at this point I don't really see them as useless because in anyway they still provide food on our tables although I'm not into memecoins but I know a lot are benefitingvfrom it.

Definitely this madness has a limited time and it's going to be over soon, and when it's done transactions will keep it's stands again people will be free to use crypto as regular means of payments.

[Belarge]

Meme coins and NFT's are part of cryptocurrency, whether we like it or not. They are simply too popular with whatever this generation is. I think we should avoid them in order to avoid financial ruin. They are not serious investments.

In our financial runs, ensure you're always one step ahead of others, that's giving them the lead. When we don't make the appropriate decisions in the market, we stand a chance of ruining everything and that's skeptical because of our rush actions. We have investments in the market, we ought to face them and ensure we're having one of the basic movements in the space. Cryptocurrency, we should be careful when dealing with this space because it's never a solid stands but for the heavy duties, straight targets are known.

[moneystery]

i don't have a problem with meme coins, because everyone is free to develop what they want, but the problem is when it disrupts the bitcoin network like some time ago. it's not just them who make transactions, but there are still many more people who want to make transactions but are prevented from doing so by unreasonable fees. meme coin developers should be aware that they should develop their coins on their own network where only their community uses it, not interfere with the core network where there are more people who use it.

[Bureau]

i don't have a problem with meme coins, because everyone is free to develop what they want, but the problem is when it disrupts the bitcoin network like some time ago. it's not just them who make transactions, but there are still many more people who want to make transactions but are prevented from doing so by unreasonable fees. meme coin developers should be aware that they should develop their coins on their own network where only their community uses it, not interfere with the core network where there are more people who use it.

I do remember that time when the transaction fees went sky-high due to meme coins on the Bitcoin network. Everyone here and on other forums was not happy with the way these coins were congesting the network and causing the transaction fees to go high. At the moment most of the new meme coins are avoiding blockchains where the fees tend to go high due to congestion and they are opting of Solana. I think we might not see such a situation happening again on the Bitcoin network in the future.

[coiningz]

All that meme coins hype is cancer and harmful thing, people outside of the industry thinks that this is some kind of shit for kids and rugpulls

[Bushdark]

i don't have a problem with meme coins, because everyone is free to develop what they want, but the problem is when it disrupts the bitcoin network like some time ago. it's not just them who make transactions, but there are still many more people who want to make transactions but are prevented from doing so by unreasonable fees. meme coin developers should be aware that they should develop their coins on their own network where only their community uses it, not interfere with the core network where there are more people who use it.

Meme coins are not responsible for increase in network fee. We need to understand the market and how things works because not all projects are going to be listed on many of the popular blockchains so there are other too that are trending with easy access.
Meme projects are very good to hold that is why I don't discriminate all but just few that are bad to hold.
There are some that can give us amazing profits holding for frew days or weeks.

[Bureau]

All that meme coins hype is cancer and harmful thing, people outside of the industry thinks that this is some kind of shit for kids and rugpulls

I agree with your thoughts but meme coins have been trending from 2021. In 2024 with a span of just 3 years there are too many meme coins that are being traded on big CEX like Binance. Earlier there were only two that were listed. Since people are investing in meme coins because of the hype the exchanges are listing them. Rug pull are common in any crypto project it is not that it is happening in meme coins only.

[Sunderland]

Soon or later the memecoin trend will definitely die, it will happen when people/bad actors can no longer profit from the scheme.
All these new memecoins are like legalized ponzis because everyone can buy them on legal exchanges.
And the creators will not be subject to legal action if one day their coins suddenly become worthless.
So, as long as this scheme remains profitable - new memecoins will always be born every day.

[wxa7115]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

As long as scammers and speculators can make money with meme coins, we should expect the current situation to continue, after all we cannot really hope those people to give up on their main way to make money out of newbie investors.

So when will this change? When newbie investors finally realize there is no hope for them to get the results they want out of those coins, then and only then we could see an improvement, unfortunately I do no think this will happen soon, and in fact it is going to get worse as the bull run gains strength during the next months.

[wheelz1200]

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?

Seriously I will say the hype will continue to raise over time for memecoins because the number of investors looking for those memecoins to get rich quick are definitely growing and currently they are more than those investors in this space than people solely investing for the utility sake. When you look at the whole trend of memecoins coming into a new ecosystem you will notice that some of this memecoins are incorporated just to generate more attention to that ecosystem just like how the Solana ecosystem is gaining a massive turnover by meme coin hunters.

I think developers will continue to tweak their ecosystem protocol to actually allow or accommodate the memecoins so yes this space will definitely do fine even if they continue to increase the number of memecoins

Memecoins are a zero sum game.  Some people yes will male money but they are useless and when something better comes put people will sell this crap so fast that people are going to lose millions of dollars in missed opportunity.  There are tons of memecoins last bull run and most of them are worthless even though they pumped at one time.  If you lose money in that game you kind of deserve it.

[atamism]

Meme coins and NFT's are part of cryptocurrency, whether we like it or not. They are simply too popular with whatever this generation is. I think we should avoid them in order to avoid financial ruin. They are not serious investments.

I think that memecoins is a trend now, and going into the bull run many newbie investors are lured into investing in hyped get rich quick schemes projects, so I don't see memecoins going anywhere soon, they're part of cryptocurrency whether we like it or not. We have a few reputable memes like dogecoin and Shiba Inu, but majority of them are scams, still people will gamble their funds to buy, another scam that I don't understand is NFT, but they're still thriving in the crypto space, I'll just stick with Bitcoin and reputable altcoins.

Yeah, before memecoins arise like dogecoin and Shiba, they are one of the annoying things that comes to the picture, but now they gain some reputation and now have a good run. Yes, a lot of memecoins are scams and everyone should know that there's no future to those coins and should stick to the main or top coins in the market to avoid lose.

[Sayeds56]

    Thanks, OP, for making this issue in this section about that. In my personal understanding of thinking, I think this is also the bull we are facing, and it looks like meme coins today.

     It is just a matter of observations. If 2017 had been an ICO season, it would have been a period of playtoearns or defigames, metavers and NFTs, and now meme coins. So as I see it, it doesn't seem like the meme is ruining some of the crypto. The development of the Sol Network is just as good as the development of the Sol Network, so many memes are usually under SOL because the fees are cheap.

Certainly, some meme coins, such as Doge and Shiba are likely to  endure because of the internet culture and backing of Influencer like Elon Musk and Vitalik Buterein (Founder of Ethereum), and most of them are likely to fail in the long term due to absence of any real life use case.

Certain crypto enthusiasts perceive meme coins as stress test for block chain networks due their high volumes of transactions. DYOR

[LogitechMouse]

~
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.

Meme coins might be a very risky investment, but I still believe that it isn't ruining "everything"

Meme coins are always being created under a particular blockchain meaning that increases the day-to-day transaction under that blockchain which is a good thing. I know that most of the meme coins right now will come and go, but there are still benefits of meme coins especially for those who got huge profits into it already. Well as for the gas fees, I believe that the Dencun upgrade of Ethereum focuses on the gas fees of other L2 networks, and while not all are affected by it, the most popular ones are like Polygon, Optimism, and I believe even zkSync.

There's no such thing as "forever hype" when it comes to crypto. P2E got it's hype way back in 2021, and it went down as the months pass by. Same with Meme coins way back a few years ago. Now the meme coin is getting hyped again. Most new meme coins will pump in price, but in the next months, it's price might go down even though we are in a bull run. I believe that meme cons will be fine. I mean we've seen meme coins like DOGE, SHIB, FLOKI, PEPE, and others that are becoming more popular, and the crypto space is working just fine. Meme coins are here to stay that's for sure.

[o48o]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

If meme tokens are ruining everything, then the fault lays in the core of the platform itself, as the whole idea of permissionless transactions is not to control people. If you set people free, they act as they wish, not how we or you wish. It's only freedom of the people we can blame for that. No one is facing any consequences for acting immaturely or stupid, because that's build on the core of the design. I can't see why they would go away as they have just grown since start of dogecoin. So as long there are people there will be some abstract meme tokens and imho we just embrace them as a sign of freedom.

It might be frustrating, but freedom will bring in the worst and the best of people, and because majority of people are quite stupid, stupidity will overcome reason any day.

[kamvreto]

~

I'd say the only thing being ruined by meme coins would be the idea of noncrypto people about, well, crypto. Can't say much about them clogging the network, don't really know the intricate details about how it works specifically anyway. And it being utilitarian/speculative, I'd say most would consider it as speculative really.

If I were to be asked if it'd be better for there to be memecoins vs not, then I'd definitely go for not. Sadly I don't think it will because of how the culture of the internet works. Crypto is much more friendly after all compared to stocks so it's no surprise why stuff like it popped up and became famous.

The shift in the main idea of crypto is so that ordinary people only understand memecoins and they are indeed very speculative. whereas in addition to memecoins many are better investments such as Bitcoin for the long term. I like and dislike memecoin, because it benefits faster and also harms faster.  It doesn't have any utility as this is just a memecoin, for speculative purposes only. Following the current flow also doesn't seem to matter as long as you understand how to do a good game in Memecoins and don't lose all your money.

[Yatsan]

I don't think it is ruining everything. Memecoins has been existing for years as well and most of it are just 'hype coins' indeed however, hype means engagement still, and that is good for this industry at least. If it is with higher transaction fees then I doubt it is only because of the emergence of memecoins. The market value of Bitcoin, Ethereum and other coins of this industry have peaked recently and it would be normal if transaction fees would be higher, so I doubt it is memecoins to blame. But I'd agree that the impression from people towards memetokens could influence non- crypto investors. Memecoins are known for sudden price decline after a quick rally. Although it is a bit often to hear negative viewpoints toward this industry, the market price bevavior of memecoins could possibly push away those who are interested especially those who would generalize this technology.

[batang_bitcoin]

Do you think the "meme" coins craze will move the industry away from being a utilitarian one to a speculative one?

The entire crypto market is a speculative market and that's why we're all here though. But with these meme coins craze, I can't deny that they're contributing to the entire market.

Will the hype last forever?

No.

Do you think crypto will do fine with "meme" coins in the way?

Yes. Dogecoin was there but it's made as a meme and it had stayed on the top ranks for several years. Now, it just has got its competitors and even more but still, it remains so it's just fine with many of them in existence.

[yazher]

Of course, the hype won't last forever it's just like the last trend which was not successful until today because all they have been doing was only hyping their investors to buy their tokens like what happened to NFTs and other altcoin projects throughout the year, they don't have long time plan and their road maps are just bait to lure some investors and it was not really good event because after that, the trust rate for altcoins and real projects has dropped dramatically and only those who have connections and already popular are making good progress since they can backup up whatever they are saying on their roadmaps.

[Sayeds56]

its manipulation to the masses where memecoins attract regular people into crypto and that they are going to invest the very little they have into the market and when they see that their crypto wallet looks better like that meme above, they invite friends to invest in memecoins.

memes are convincing just like this https://www.youtube.com/watch?v=KTf5j9LDObk 

Certainly, the main target of meme coins are  new comers in the crypto space who dream to become millionaire overnight and get attracted with their low price. However,, eventually they lose most of their  investment when these meme coins become worthless after the end of their hype. This recurring pattern of meme coins underscores the true nature of these coins, as they lack any tangible utility and crafted for amusement rather than any practical use case.

In summary, while the meme coins may offer the illusion of easy money, the reality is far more sobering, better to avoid taking risk in such speculative assets.

[FinneysTrueVision]

Ideally, the free market will sort things out and push these things to the fringes. That’s not how things have played out, however. There are just too many gambling degenerates, scammers, and useful idiots wanting to make a quick buck without putting any effort or creating something useful. Meme coins are just pump and dumps hoping they will catch on with enough people and keep their scam going longer. Sometimes they will receive the endorsement of a high profile celebrity like Elon Musk, but these investments are anything but sound. Many investors and Elon cultists hoping to change their life by buying scammy garbage will learn the hard way that these shitcoin pumping grifters don’t have their best interests at heart.

[Claymore2]

In my opinion, meme tokens serve their own purpose and don't necessarily ruin everything. While some people profit from them despite manipulation and hype, others may view them differently, especially if they've been scammed by meme tokens.

[nelson4lov]

In my opinion, meme tokens serve their own purpose and don't necessarily ruin everything. While some people profit from them despite manipulation and hype, others may view them differently, especially if they've been scammed by meme tokens.

We were promised financial revolution — what we're seeing with memecoin frenzy in this cycle is a classical ponzi scheme and casino. It's sad to see projects with dedicated teams putting in the work and grinding it out since the bear market get little to no attention when their governance tokens become tradable. I know tons of projects that were having difficulty in raising $1m (bare minimum) for further their runway yet over a dozen people just created an X account, hire a token dev and raised over $30m.

If this continues, crypto will look like one big fat ponzu scheme that people will readily exit when push comes to shove.

[Rabbitqt]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

Overall meme coins are bad for this space in the long run. However they bring more retail players than traditional crypto currencies and more liquidity coming in isn't bad.

[AVE5]

MemeCoins ain't trust worthy so even if it has attracted investors attentions towards it in filling the Crypto chain, then the reputable Cryptos doesn't have to worry at all for MemeCoins are hyped, manipulated and seasonal coins which is fragile with a short life to trend and make good interest in a moment and suddenly disappears while the reputable AltCoins and the bitcoin hold the responsibilities of the crypto chains.
Let's not panic for the trends of the MemeCoins has end times and any greedy investor would surely be faced with disaster if holding so responsibly on the Memecoins.

[Pedrination]

From my perspective, the current hype surrounding memecoins is reaching unprecedented levels. With the sudden emergence of countless new tokens lacking any tangible utility, it's causing significant network congestion and driving up transaction costs. However, I believe this frenzy will eventually subside, leading to a reduction in fees as network conditions stabilize. Despite their popularity, memecoins and NFTs should be approached cautiously as investments, as they may not offer the same level of reliability and stability as more traditional assets.

[Ozero]

Meme coins and NFT's are part of cryptocurrency, whether we like it or not. They are simply too popular with whatever this generation is. I think we should avoid them in order to avoid financial ruin. They are not serious investments.

Meme coins play both a positive and negative role in the cryptocurrency market. Yes, they make cryptocurrencies a little frivolous and clog up blockchains. At the same time, they force developers to improve blockchains and increase their scalability. But the concept of usefulness and uselessness will still be decided by the market, as with all cryptocurrencies up to this time. Everything that is superfluous and unnecessary will disappear over time. Therefore, there is no point in worrying too much about this.

[bangjoe]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

Including in the solana network, I also think it is busy to the point that the founder said he did not recommend meme tokens to buy even though it basically made the price of solana increase due to purchasing activity.
ETH, Bitcoin and other networks as more meme tokens are hype, it will be very detrimental to the network, which makes me disappointed because blockages will take time and money if it is too busy.

I myself feel disappointed if I look at the development of meme tokens, but on the other hand this cannot be stopped so it is better to use it for profit, and in fact it is quite profitable for early adopters, try it and feel mentally like gambling on meme coins hahaha.

[Mate2237]

Meme coins and NFT's are part of cryptocurrency, whether we like it or not. They are simply too popular with whatever this generation is. I think we should avoid them in order to avoid financial ruin. They are not serious investments.

Meme coins play both a positive and negative role in the cryptocurrency market. Yes, they make cryptocurrencies a little frivolous and clog up blockchains. At the same time, they force developers to improve blockchains and increase their scalability. But the concept of usefulness and uselessness will still be decided by the market, as with all cryptocurrencies up to this time. Everything that is superfluous and unnecessary will disappear over time. Therefore, there is no point in worrying too much about this.

And add it to what you have said memecoins also create the market competition in the cryptocurrency ecosystem market and why why memecoins are rampage in the ecosystem because of bitcoin when the transaction was very high, developers used that opportunity to developed coins so that people would used it since bitcoin transaction fee was very high.

But all in all the risky in memecoins are still high. And in the bull run, they are not increasing in value but just stagnant. Ethereum which I think will increase just stable in one place.

[coin-investor]

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?

It is already speculative right now, people are looking for the next meme coin that will bring them profit regardless of their usability, I'm just so surprised that the meme coins trend continues it's a different trend, just when we thought it would soon be over a new meme coin will come suddenly and disrupt the market.
After PEPE investors are on the hunt again and developers keep flooding investors because there's a market and there's profit.

Do you think crypto will do fine with "meme" coins in the way?

We already have a meme coin on Dogecoin but it's not experiencing the kind of hype if not for Elon we still have one Meme coin, Elon's fondness for Dogecoin created this meme trend.

[Friendlyuser]

I agree that most meme coins are just flashy projects with no future that bet everything on a pump and fast cash-out, but at the same time, isn't everyone free to decided where to put his money? If somebody wants to invest in memecoins because he thinks he will get more money that way compared to traditional coins, why not let everyone make his choice?
If meme coins can ruin crypto after 15 years then we built  a castle on sand!

[Sayeds56]

Ideally, the free market will sort things out and push these things to the fringes. That’s not how things have played out, however. There are just too many gambling degenerates, scammers, and useful idiots wanting to make a quick buck without putting any effort or creating something useful. Meme coins are just pump and dumps hoping they will catch on with enough people and keep their scam going longer. Sometimes they will receive the endorsement of a high profile celebrity like Elon Musk, but these investments are anything but sound. Many investors and Elon cultists hoping to change their life by buying scammy garbage will learn the hard way that these shitcoin pumping grifters don’t have their best interests at heart.

Absolutely, within the frame work of free market concept, its mechanism are expected to naturally sort out inefficient or fraudulent ventures. However it is important to note that this mechanism is not perfect, there are many instances where scams and speculative bubbles persist despite the market's supposed corrective nature. Meme coins and other speculative assets often thrive on hype due to misinformation rather than genuine value or utility.

In fact regulatory authorities are responsible to protect investors and maintaining market integrity. I think ultimately investors should also conduct through research before buying any such speculative asserts. DYOR

[Abiky]

If meme tokens are ruining everything, then the fault lays in the core of the platform itself, as the whole idea of permissionless transactions is not to control people. If you set people free, they act as they wish, not how we or you wish. It's only freedom of the people we can blame for that. No one is facing any consequences for acting immaturely or stupid, because that's build on the core of the design. I can't see why they would go away as they have just grown since start of dogecoin. So as long there are people there will be some abstract meme tokens and imho we just embrace them as a sign of freedom.

It might be frustrating, but freedom will bring in the worst and the best of people, and because majority of people are quite stupid, stupidity will overcome reason any day.

Blockchain developers should increase on-chain transaction capacity to prevent "meme" coins from clogging the network. Or they could force everyone to move to a L2 network for complete peace of mind (like how Ethereum is doing today). The problem with "meme" coins is that most of them are simple tokens living on existing blockchain networks. This tells us that developers are none other than "script kiddies" or amateur coders without any Blockchain experience. The only exception is Dogecoin because it has its own chain. If all of the "memes" had their own chains, crypto land would be a better place.

I hope to see more quality over quantity in the crypto industry soon. Projects that actually have a real use case and aren't driven by hype/speculation. It's only been 15 years since the inception of BTC, anyways. Crypto/Blockchain tech is just starting to blossom. Maybe it will mature sometime in the future?

[albon]

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?

These memes have enthusiasts interested in them, most of whom are now looking only for one utility, which is speculation that through these memes they could make huge profits and double their capital, which may reach 100x. You may see that their investment view tends to be greed, but this is their decision in these coins regardless to their disadvantages and the huge risks that they might face. and this is due to the dominance of many of the memcoins in the market cap and adherence to the upward trend, and I do not think that the hype may continue forever where you find for years that there are coins that have appeared and coins have disappeared and remained dormant until now.

I do not think that the crypto market will be fine, as it is prone to scams. as about 98% of the memecoins can be bought but cannot be sold if they are not listed on CEX platforms and the demand for promising altcoins will decrease, after investors abandon them and withdraw their capital, shifting to these memecoins, also I found that the Solana Network became crowded and its fees increased compared to before due the presence of these coins that were built on its network.

[SATWAT]

Ideally, the free market will sort things out and push these things to the fringes. That’s not how things have played out, however. There are just too many gambling degenerates, scammers, and useful idiots wanting to make a quick buck without putting any effort or creating something useful. Meme coins are just pump and dumps hoping they will catch on with enough people and keep their scam going longer. Sometimes they will receive the endorsement of a high profile celebrity like Elon Musk, but these investments are anything but sound. Many investors and Elon cultists hoping to change their life by buying scammy garbage will learn the hard way that these shitcoin pumping grifters don’t have their best interests at heart.

Absolutely, within the frame work of free market concept, its mechanism are expected to naturally sort out inefficient or fraudulent ventures. However it is important to note that this mechanism is not perfect, there are many instances where scams and speculative bubbles persist despite the market's supposed corrective nature. Meme coins and other speculative assets often thrive on hype due to misinformation rather than genuine value or utility.

In fact regulatory authorities are responsible to protect investors and maintaining market integrity. I think ultimately investors should also conduct through research before buying any such speculative asserts. DYOR

I am agreed about this all, but sadly we are not having any regulate authority which can handle this all here we need members do some good search before investing in any project, and then we also needed if someone have authentic information about these type projects he also needs to share about this which will surely help this community, and they will be able to avoided them with newbies and greedy members still can trap in these projects easily as they usually want to have good profit of their investment quickly which is shown by these project developers, and also they use social media and other sources for having the good number of newbies for this all which after losing money have no way to recover or return of their funds.

[Belarge]

I agree that most meme coins are just flashy projects with no future that bet everything on a pump and fast cash-out, but at the same time, isn't everyone free to decided where to put his money? If somebody wants to invest in memecoins because he thinks he will get more money that way compared to traditional coins, why not let everyone make his choice?
If meme coins can ruin crypto after 15 years then we built  a castle on sand!

Memecoins are possible trends of projects and we have been able to take proper view of most of them, some don't always ends in good draws. Everything is going to be ruined right from the moment we choose the wrong path. We have not been able to stack up the require profits. We invest in the projects we thinks is promising and we're confident of milking the system back to back with the provided aides from other legit sources. Memecoins ruined everything and I've watch closely how these projects have become something to bother about.

[jrrsparkles]

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

If it's just hype, it won't last for very long so these clogs can clear on its own but I just want to mention about the quoted part. How many crypto users are actually using cryptos for payments not as investment?

Majority of the crypto users are here because of its speculative nature not because of decentralisation and no need of third party called banks between payments but we can't force anyone to do anything and that's what the decentralisation is meant to be.

[Bushdark]

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

If it's just hype, it won't last for very long so these clogs can clear on its own but I just want to mention about the quoted part. How many crypto users are actually using cryptos for payments not as investment?

Majority of the crypto users are here because of its speculative nature not because of decentralisation and no need of third party called banks between payments but we can't force anyone to do anything and that's what the decentralisation is meant to be.

Every other crypto tokens are also based on hype so we should not be received about that if we don't know how it works.
Some timea I wondered why they are called meme coins because I see nothing wrong with them because their are lots of investors that has made some good fortunes from holding meme tokens. Even Elon Must knows that their are good meme coins in the market we can make some good fortunes from holding them so we should not be surprised about that.

[lalabotax]

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?

Sometimes, to be honest, I think so too. It is quite difficult to accept the various onslaught of meme coins, which are often not worth it and do not meet the market's convincing criteria. But unfortunately, that's precisely what often appears. And in fact, this time, many parties are actually deliberately looking for meme coins to optimize the profits they can get. Here, we understand that what we want is related to profits, whatever it is. So, as long as we can optimize it, just continue using meme coins, no matter how we like them, they are sometimes quite worth it. But if we really don't like them, then just avoid them. There's no need to think about it because there will definitely still be lots of developers who will create more coin memes in the future.

[kentrolla]

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?

Sometimes, to be honest, I think so too. It is quite difficult to accept the various onslaught of meme coins, which are often not worth it and do not meet the market's convincing criteria. But unfortunately, that's precisely what often appears. And in fact, this time, many parties are actually deliberately looking for meme coins to optimize the profits they can get. Here, we understand that what we want is related to profits, whatever it is. So, as long as we can optimize it, just continue using meme coins, no matter how we like them, they are sometimes quite worth it. But if we really don't like them, then just avoid them. There's no need to think about it because there will definitely still be lots of developers who will create more coin memes in the future.

Yes that's the problem because even the people they are moving away from features and utilities which a project provides and just blindly going for memecoins with the expectations that's it would provide better ROI than other coins but people shouldn't be focussing on few projects which were successful they need to look at the number of memecoins which has failed then they would realise the chances of getting profit from memecoins are very thin. Unfortunately money and greed has taken over.

[Best-mary]

Some memecoins will stay simply because of internet culture, most will crash and burn.

Personally, I don't find them useless and I don't see them "ruining everything". How are we going to expect the masses to be able to use these networks if memecoins are causing them to become unusable? Memecoins are the perfect stress test for these blockchains so everyone can improve the current networks we have.

Memecoins are just the fun of it. It is like saying, hey! Take a break from your hard work and chill a little. Or like reminding you that you shouldn't take life seriously. Is just for the fun and making money out of fun is Fun!!
I mean look at Brett, Slerf, MFER and now we have KOKO. All with no sense but are all funny. Just know what to invest so you won't lose your money

[johnsaributua]

Let's say for the network base on the farcaster platform, I almost daily work and get my meme assets there, and so far it is quite cheap, unless there are certain platforms that allow to mint nft memes as well. So far from free I got probably hundreds of times more profit than just the fee I spent, because there are also some projects that are connected to Twitter and its establishment.
===========================
If there is a crowd on the coins you mentioned such as btc, eth etc., I agree that these coins have good fanatics in investment, even though they are expensive, they are willing to queue and get them. Coin meme is like a joke and the price is very cheap and even free, but so far I have also been helped and made a considerable profit from coin meme.

My principle, the existence of meme coins is a complement and another alternative when favorite coins are so expensive, and allow me to dca with little capital, or to send on an errand. Because what I want is cheapness, convenience, smoothness in money transactions even with meme coins. Naturally, in the market it is difficult to concentrate on choosing meme coins, because there are quite a lot of activists, but so far many meme coins are also reputable.

[bluebit25]

The memecoin craze shows no signs of slowing down. There is a growing wave of investors pursuing "get rich quick" dreams, and currently, they appear to be outnumbered by those focused on utilities. I see memecoin could even act as a gateway to an entire ecosystem. Have you seen the rise of Solana due to memecoin hunters as a prime example! Developers are adaptable, capable of integrating memecoin into their protocols to keep the momentum going. So even with an influx of memecoins, this space could continue to thrive as long as there is a balance between hype and utility present over the long term.

[avp2306]

The memecoin craze shows no signs of slowing down. There is a growing wave of investors pursuing "get rich quick" dreams, and currently, they appear to be outnumbered by those focused on utilities. I see memecoin could even act as a gateway to an entire ecosystem. Have you seen the rise of Solana due to memecoin hunters as a prime example! Developers are adaptable, capable of integrating memecoin into their protocols to keep the momentum going. So even with an influx of memecoins, this space could continue to thrive as long as there is a balance between hype and utility present over the long term.

No sign of slowing down since investors nowadays are normalize the pump and dump schemes happening on that tokens. And they are aware on what's happening and the only thing they need to do is to became an early investor then earn with these token. Also to many people hyping this meme coins then show their big gains that's why there's a lot of people got interest to invest since they also want to experience getting the same profit and now they are trying to engage with those risky tokens. Meme coin is really a bad choice of investment especially for newbies but sometimes this is the only thing they know that's why they should really do a research so that they can sustain their investment and became sustainable as an investor.

[Sophokles]

The memecoin craze shows no signs of slowing down. There is a growing wave of investors pursuing "get rich quick" dreams, and currently, they appear to be outnumbered by those focused on utilities. I see memecoin could even act as a gateway to an entire ecosystem. Have you seen the rise of Solana due to memecoin hunters as a prime example! Developers are adaptable, capable of integrating memecoin into their protocols to keep the momentum going. So even with an influx of memecoins, this space could continue to thrive as long as there is a balance between hype and utility present over the long term.

The risk and reward ratios are too high. Those who are risking their money, i think they know they can not risk any money that they can not afford to lose. Also some of the OG meme investor became so good at them that they made millions of dollars from meme project. They have a better instinct that tells them in which project they should invest; otherwise, someone can make millions of dollars only by investing in a meme project. Most of the meme investment by these people saw profit.

[Bureau]

The risk and reward ratios are too high. Those who are risking their money, i think they know they can not risk any money that they can not afford to lose. Also some of the OG meme investor became so good at them that they made millions of dollars from meme project. They have a better instinct that tells them in which project they should invest; otherwise, someone can make millions of dollars only by investing in a meme project. Most of the meme investment by these people saw profit.

Investing in any crypto has its own risk and rewards. While big crypto like ETH, BNB and new ones like SOL are giving decent returns, meme coins are generating 10x or more returns to investment. In such scenario it is natural that anyone investing in crypto would divert their investment in these shit coin than into those that provide utility and stability.

[Publictalk792]

Memecoin craze in cryptocurrency world is very interesting. It is getting more popular every day. Some people are investing in memecoins to make quick money while others think memecoins could become more important. Memecoins could open up new possibilities for cryptocurrencies. For example Solana value went up because of memecoins. This shows how meme coins can affect market. Developers are also thinking to use memecoins in their projects showing how creative crypto community is. If people can balance excitement with practicality memecoins could do well in future. It will be exciting to see what happens next and if memecoins become a big part of digital assets.

[Oasisman]

decentralization, of course.

What's your opinion on this?

Nothing's last forever though, but for sure the meme coin hype will last longer just because a lot of people are trying to get good profit faster than trading in the market or hodling bitcoin and other promising altcoins. We have witnessed how a handful of memecoin get up to 1000+ profit in just a matter of months. That alone is the reason why the hype will never end, people are willing to gamble to a coin that doesn't even have any uses.
These never ending creations of memecoin may not be the only thing that contributes to network traffic, there are also a few main factors. This either could be a really bad and frustrating thing especially for those who constantly have transactions, and it could also be a good thing so the developers would strive to continue to innovate the network problems.
Therefore, I think I can consider this a good thing to stay until people will have to lose more and realize on the latter LOL. Of course in the lighter side the devs will have a quite challenging scenarios to fix the network problems.

[Essential10]

As the price of Bitcoin increases, many people withdraw from Bitcoin investments and are more attracted to meme coins. Meme Coin is creating a lot of hype in the market due to the big celebrities and the popularity is increasing day by day. Because meme coins are cheap, most people expect to get more for less. Meme coins can provide the highest returns as well as the highest risk investment. When different coins start to increase in value, we see a good pump in two-one new coins out of thousands of meme coins, but the coin cannot be accurately predicted in advance as the one that will pump. Can't deny that Meme Coin won't be successful in the future. Meme Coin may be successful in the future, but I really don't know which coins are worth investing in.

[Hispo]

As the price of Bitcoin increases, many people withdraw from Bitcoin investments and are more attracted to meme coins. Meme Coin is creating a lot of hype in the market due to the big celebrities and the popularity is increasing day by day. Because meme coins are cheap, most people expect to get more for less. Meme coins can provide the highest returns as well as the highest risk investment. When different coins start to increase in value, we see a good pump in two-one new coins out of thousands of meme coins, but the coin cannot be accurately predicted in advance as the one that will pump. Can't deny that Meme Coin won't be successful in the future. Meme Coin may be successful in the future, but I really don't know which coins are worth investing in.

It is a very lacklustre argument, in my opinion, to only invest in a coin because it's low price and due to the price of Bitcoin being high.
We all know Bitcoin is divisible and easily handled in decimal fractions, so there should not be a problem how Bitcoin becomes now or in the future. The problem starts when too many people start to fall into the delusion that having thousands of shitcoinnin their wallet will make them earn much money.

In reality, a handful of satoshis will be always be more valuable than millions of shitcoins and the so-called "memecoins". Because, let us not forget, memecoins are nothing without the hype and the support from the community behind the coin, both of those factors being very volatile and changing through time. As soon as the community moves on from the coin to the next one, inevitably the memecoin turns into the typical shitcoin plummeting to near zero. 

[jrrsparkles]

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

If it's just hype, it won't last for very long so these clogs can clear on its own but I just want to mention about the quoted part. How many crypto users are actually using cryptos for payments not as investment?

Majority of the crypto users are here because of its speculative nature not because of decentralisation and no need of third party called banks between payments but we can't force anyone to do anything and that's what the decentralisation is meant to be.

Every other crypto tokens are also based on hype so we should not be received about that if we don't know how it works.
Some timea I wondered why they are called meme coins because I see nothing wrong with them because their are lots of investors that has made some good fortunes from holding meme tokens. Even Elon Must knows that their are good meme coins in the market we can make some good fortunes from holding them so we should not be surprised about that.

The idea of memecoin is just launched as fun project but it holds the potential which took them to this level among the crypto users but the emergence of new memecoin projects after the success of few is overwhelming and clogging the crypto space but as said any hype will get exhausted over time and only projects with potential can survive.

[Denamen]

It's not bad like that. A meme coin is just for fun, like buying a lottery. Most of them are trash, but I think people know it. It's just a hype trend for newbies who don't know about crypto before. Spend a few bucks, and they join the crypto market. That's the mission of a meme coin: to spread awareness about crypto to the world.

[dunfida]

decentralization, of course.

What's your opinion on this?

Nothing's last forever though, but for sure the meme coin hype will last longer just because a lot of people are trying to get good profit faster than trading in the market or hodling bitcoin and other promising altcoins. We have witnessed how a handful of memecoin get up to 1000+ profit in just a matter of months. That alone is the reason why the hype will never end, people are willing to gamble to a coin that doesn't even have any uses.
These never ending creations of memecoin may not be the only thing that contributes to network traffic, there are also a few main factors. This either could be a really bad and frustrating thing especially for those who constantly have transactions, and it could also be a good thing so the developers would strive to continue to innovate the network problems.
Therefore, I think I can consider this a good thing to stay until people will have to lose more and realize on the latter LOL. Of course in the lighter side the devs will have a quite challenging scenarios to fix the network problems.

If you do try to look into those DEX around then you would really be able to see on how many coins that been created which some do pump on x1000 or even more and this is where some traders or investors
do really love on diving on.Yes, its risky but this one could really give out that kind of possibility that could make you rich once you do hit up the right coin and this is where these traders do really love to put up some money.
Meme coins are shit but its a shit that you would really be able to make you rich and this what makes that interesting and this is why they would really be that tending to take up risk for those probabilities.

They do really ruin? In personal perspective or pov then you would really be that be ruined if you are really that knowing about to handle up the risks but to those who do able to
to have that kind of risks management and able to make money then this is something that positive for them.

[Huppercase]

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'm just coming from a thread that is similar to this one and I will drop this one again. Last bull run right, a lot of coins pump and people weren't so worried about which one is next and which is not but in this bull run, Bitcoin halving that is responsible for the event hasn't even started yet but it seems a lot of people are gas lightning the entire thing to make quick money and it's not working as they are manipulating it and they all moved to meme coins since it was what pumped the most in the last bull run.

I have noticed that when a coin lack untility and it pumped, after that period it dump and might be there after a while, then some people will buy more and when they see that it's not pumping as they expected, the selling continues until it run out of volume, I'm very sure that these phase will soon fade out when real coins started making moves especially when dominance start to move to those coins.

[Abiky]

If it's just hype, it won't last for very long so these clogs can clear on its own but I just want to mention about the quoted part. How many crypto users are actually using cryptos for payments not as investment?

Majority of the crypto users are here because of its speculative nature not because of decentralisation and no need of third party called banks between payments but we can't force anyone to do anything and that's what the decentralisation is meant to be.

Exactly. I can't recall of anyone using crypto for payments other than as a long-term investment. Only a small minority does otherwise. We can blame exchanges for this. They've encouraged people to buy/sell crypto like stocks. Crypto/Blockchain tech can never reach its full potential this way. Things are even worse with "meme" coins as they become some sort of "get rich quick" scheme.

Developers these days are focusing more on quantity instead of quality. The mere fact that most "meme" live on existing blockchains (instead of their own) says it all. At least, it's a "free market". As long as decentralization wins, there should be nothing to worry about.

[ndutndut]

Sometimes, to be honest, I think so too. It is quite difficult to accept the various onslaught of meme coins, which are often not worth it and do not meet the market's convincing criteria. But unfortunately, that's precisely what often appears. And in fact, this time, many parties are actually deliberately looking for meme coins to optimize the profits they can get. Here, we understand that what we want is related to profits, whatever it is. So, as long as we can optimize it, just continue using meme coins, no matter how we like them, they are sometimes quite worth it. But if we really don't like them, then just avoid them. There's no need to think about it because there will definitely still be lots of developers who will create more coin memes in the future.

Indeed, the meme coin phenomenon is currently on the rise, in fact it is difficult to avoid, although there are also meme coins that have a positive impact, there are also those that have a negative impact and even damage the crypto space. In the ever-changing and evolving crypto world, the negative impact of meme coins is not only troubling but also has the potential to harm the crypto ecosystem as a whole. There are some meme coins that may have a positive impact, but quite a few are fake, or even cause disappointment in the following months for their holders, this is best avoided.

For me, meme coin can be a market dump or pump guide in terms of volatility and number of coin habitats as well as user behavior patterns, because the meme coin shortcut is the easiest dream for many traders who want to get multiple profits.

[hitsnorth]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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 don't think that memecoins will actually move the industry, they are parasites of it, not action makers IMO. And hype will definitely not last forever. Memes are dying fast. The industry will be fine.

[JeffBrad12]

I don't think that memecoins will actually move the industry, they are parasites of it, not action makers IMO. And hype will definitely not last forever. Memes are dying fast. The industry will be fine.

meme coin is just speculation tool really nothing more, it pumps and dumps in the blink of an eye, some still retain its market cap maybe because its too big but then again its just speculation tool.
the trend, will not dies out, the trend meme coin quite literally has been being recycled for 3 cycle of bullrun and still exists to this day.

Memecoin craze in cryptocurrency world is very interesting. It is getting more popular every day. Some people are investing in memecoins to make quick money while others think memecoins could become more important. Memecoins could open up new possibilities for cryptocurrencies. For example Solana value went up because of memecoins. This shows how meme coins can affect market. Developers are also thinking to use memecoins in their projects showing how creative crypto community is. If people can balance excitement with practicality memecoins could do well in future. It will be exciting to see what happens next and if memecoins become a big part of digital assets.

meme coin in essense just extracting out that speculative nature of certain coin and make it more clear for the people, in stock we got low market cap stock that is just shit tier stock for pump and dump in crypto we got meme coin, its basically just a money game and whoever participated in it should already be ready to lose their money after all game always have winner and loser but with meme coin the amount of winner definitely lower than the loser since how else can people make millions just with some random small capital if not for dumping it on people that buy it at the peak.

[wxa7115]

If it's just hype, it won't last for very long so these clogs can clear on its own but I just want to mention about the quoted part. How many crypto users are actually using cryptos for payments not as investment?

Majority of the crypto users are here because of its speculative nature not because of decentralisation and no need of third party called banks between payments but we can't force anyone to do anything and that's what the decentralisation is meant to be.

Exactly. I can't recall of anyone using crypto for payments other than as a long-term investment. Only a small minority does otherwise. We can blame exchanges for this. They've encouraged people to buy/sell crypto like stocks. Crypto/Blockchain tech can never reach its full potential this way. Things are even worse with "meme" coins as they become some sort of "get rich quick" scheme.

Developers these days are focusing more on quantity instead of quality. The mere fact that most "meme" live on existing blockchains (instead of their own) says it all. At least, it's a "free market". As long as decentralization wins, there should be nothing to worry about.

Even if centralized exchanges did not existed, I would expect for a similar scenario to the one in which we are now to still happen, and this is because people on aggregate will not take a decision that goes against what benefits them.

So if bitcoin keeps going up in price, it is clear investors will prefer to hold their coins over spending them, as spending their coins will only bring them a small short term benefit by allowing them to buy what they want, while by keeping them not only they could still buy what they want, but at the same time they will have a lot of money to spare as well.

[peter0425]

We knew that there are no permanent thing in this world so what more about the hype? this trend is pushing because of what they meant to be , there are whales that trying to manipulate the system so they can make more money from weak investors and those greedy one , investing in meme coin is like putting your money in a not so sure investment but you are only ready to earn and not to lose.
don't worry and be alarmed because this will pass mate and that is for sure.

[Strongkored]

There are many parts of cryptocurrency that we cannot avoid, apart from just accepting it, because perhaps for us the presence of meme coin is enough to disrupt the network, causing transaction costs to increase, but more people accept cryptocurrency presence because is used as a way to make a quick profit compared to those who use it as a transaction tool at least that we can see because there are more discussions about price than the use of crypto, and also because the system allows new projects to emerge without having a network so things like meme-coins cannot be avoided.

[AVE5]

If I'm not wrong then almost 90% or more of those meme coins are either useless coins or are rug-pull schemes. They are seeing growth because of the greed of the investors and that's why they are able to ruin everything but I'm quite sure that such intensity of ruining will not last for longer.

This is basically known as meme season by some people and the greedy developers are making those meme coins only to rug-pull greedy investors. Both the investors and the developers are greedy and that's why it won't be wrong if we call it greed season.

The worst thing about the huge number of those meme coins is the ease of creation. Anyone with $1000 or more can easily created and mint those meme tokens. Most of those are popping on Solana blockchain, and on that blockchain creating of a meme token is a child's play these days.

Exactly. MemeCoins are rug diffused schemes deigned to cause commotion by overhyping of the coins even beyond bound of of its potentials. While Investors are ignorantly dancing to the tunes that they've emerged on a lucrative investment meanwhile they're all bonded with the taste of greeds.
I wonder why Investors doesn't keep investing their funds after those memcoins goes dump.

[bitLeap]

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.

Memecoin will always have a place in the crypto industry, but it depends on the season. We've seen meme coins over the years, none of which have really stayed at 100 CMC. There are only a few old coin memes, one of which is Doge, which has now also undergone changes. As for the new memecoin, in my opinion there is no positive impact that helps in a positive direction, instead there is more of a negative impact where beginners who want to learn crypto fall into a vicious circle. Entering memecoin with the aim and view of wanting to get rich quickly was finally faced with a bitter reality. Then the influencers are also not responsible for the opinions they convey to beginners under the pretext of 1000x etc.

I don't deny that there is a phenomenon of memecoin giving instant wealth to a beginner but the ratio is 1000:1, and even then it is not pure investment or trading but more like gambling.

However, there are other opinions regarding meme coins, according to Vitalik as reported by dailycoin, he admits that he recognizes the appeal of meme coins, even if meme coins must make a positive contribution to the ecosystem. But in general, in our view the fact is that memecoin is a “pull the rug” scheme. Many people close to me, especially my friends, are asking for it and want to put money into it, but I don't recommend that at all.

[Bushdark]

We knew that there are no permanent thing in this world so what more about the hype? this trend is pushing because of what they meant to be , there are whales that trying to manipulate the system so they can make more money from weak investors and those greedy one , investing in meme coin is like putting your money in a not so sure investment but you are only ready to earn and not to lose.
don't worry and be alarmed because this will pass mate and that is for sure.

Meme coins are even doing pretty well these days than many of the so called utility tokens that are in the market.
It is important we look for a good meme token and invest small amount on it, the amount we know we could afford to lose.
The crypto market is big enough and we need to take good risks not the one that would make us regret why we ever invested in cryptocurrency. Their are bad meme that would make us lose when we hold and we must ensure we prevent that from happening.
 

[microsurfer]

That's true, they creating additional load to chains and all kind of spam in the internet and making reputation of crypto worse

[AnonBitCoiner]

I don't think that every meme coin will exists longer but some of them will end with the end of Bull season therefore don't trust too much on such type of coins. Some people will say good words about meme investment and some will be against it so everything is happen due to matter of choices and the way they find meme coins.

Every coin has its own importance so I don't think that meme coins will ruin every crypto coin because everyone is familiar about its risky nature and all they know better about top coins that they aren't risky as that of meme coins.

[bluebit25]

There are a large number of memecoins that certainly will not last long and will sooner or later evaporate. While I wouldn't necessarily call them "useless," the long-term viability of most memecoins is slim. However, it is true that some people are profiting from short-term fluctuations.

This madness probably won't last forever. As things stabilize, hopefully transaction fees will normalize and cryptocurrencies can continue their journey towards wider adoption as a means of payment.

[oktana]

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?

Yes, crypto will do fine even with meme coins. And I think that there will forever be meme coins. I am not expecting all the memecoins that we see today to keep existing. The truth is that a majority of them will fail, and only the ones that have the capacity to live long will be the ones that will stay. It’s just the same way we have seen so many altcoins come and go over the course of the past years. 

[JeffBrad12]

There are a large number of memecoins that certainly will not last long and will sooner or later evaporate. While I wouldn't necessarily call them "useless," the long-term viability of most memecoins is slim. However, it is true that some people are profiting from short-term fluctuations.

This madness probably won't last forever. As things stabilize, hopefully transaction fees will normalize and cryptocurrencies can continue their journey towards wider adoption as a means of payment.

meme coin is like cycle it exists because people want to flip their money, those whales participating in the meme coin massive pump and dump are no different they trying to make money off shrimp that have no idea, meanwhile the shrimp trying to make money form whale who are reckless and not smart enough thats the essence of it i guess since in other field such thing also exists like in stocks i doubt it will vanish anytime soon at best its just gonna recycled into another form of meme coin pump and dump.
to be honest, the fact that many exchange just clearly trying to list these meme coin that gained billions of volume to their exchange mean they just want that share of profit from the massive volume, after all, 0.5% of fee from billions of volume isn't measly.
therefore its understandable if people got fed up with many exchange reckless decision to just put some random meme coin up to their exchange and facilitate these meme coin to grow.

[Churchillvv]

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?

Apart from the fact that memecoin has reduce the initial purpose of cryptocurrencies as payment method to investment ideology, I personally do not have problems with memecoins.

For sure the crypto industry will do well with or without the memecoins in it, but for the fact that they already exist what then can we do it's just best to maximise the opportunity which memecoins offer, hence profit is being made.

I don't really know, about how long memecoins will last but for each memecoin it depends on how good or reputable the coin has been in the market that will determine it's longevity, in the crypto space every thing has its own time and hype and I believe it's still meme time and when it's done it will begin to disappear from the space.

[God bless u]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

This is frustrating, because there are users who want to use crypto for day-to-day payments. Not for speculating or getting rich quick. Developers are going to need to constantly improve on-chain scalability to keep fees as low as possible. That's without undermining decentralization, of course.

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.

No I don't think you. The use case of the coin is very important and it's the major factor that plays the most important role in the long term development of the coin. We can see the example of ETH and SOl both are very useful that's why they are performing well over a longer period of time.

Now another side of the picture is that people like to invest in meme coins for large profits and that's something that is hitting me too. Meme coins will continue to come and if this trend continues what will be the future of altcoins. Answering this is quite complicated.

[Denamen]

All of us accept that memes are just a hype trend to attract new people to crypto, but what trend do you guys think will make mainstream adoption useful for crypto now, gaming or AI?

[jaberwock]

If you do try to look into those DEX around then you would really be able to see on how many coins that been created which some do pump on x1000 or even more and this is where some traders or investors
do really love on diving on.Yes, its risky but this one could really give out that kind of possibility that could make you rich once you do hit up the right coin and this is where these traders do really love to put up some money.
Meme coins are shit but its a shit that you would really be able to make you rich and this what makes that interesting and this is why they would really be that tending to take up risk for those probabilities.

They do really ruin? In personal perspective or pov then you would really be that be ruined if you are really that knowing about to handle up the risks but to those who do able to
to have that kind of risks management and able to make money then this is something that positive for them.

I do agree that there are a lot of people who just put up very tiny portion of their money into these stuff and that makes sense, if you want to put up very tiny portions of your money into it then you shouldn't be worried about it. But, when we are talking about something that could be considered different, like something that could take some time, then I would understand the difference without a doubt. I get that it may not be all that easy, but it could be done in a way that would make it work.

These people who put up very small part of their investments into it, then could be considered a little different in the end and can't really make it change all that much, so we shouldn't be worried for them, let them do whatever they want.

[crwth]

As far as cryptocurrency goes, I believe that meme coins are here to stay and are somewhat helpful in establishing more in the cryptocurrency space. With the BASE network, it's important to get ahead of it since it's just quite new and there are many things that I know of like NORMIE, HIGHER, DEGEN, etc.

The meme coins are going to last in terms of how much it has impacted the market. Like the SHIBA and PEPE with all those coins.

[Furious 7]

I see "meme" coins are clogging up Blockchains and rendering them useless, as the hype shows no signs of slowing down. Blockchains like ETH, BTC, and even Polygon/MATIC have seen an increase in network fees. Even Coinbase's ETH L2 network (BASE) have been affected by "meme" coins.

It is difficult to create a secure network of meme coins if in the end the way of making and the cost is still very cheap as well as for Base because even though it is the L2 network of ETH still at a fairly cheap price it will always be utilized by those who always make memecoins as one of the options to create schemes for personal gain

We can't prohibit that because after all, everyone can do whatever they want including making meme coins like this because in this case what I feel is that as long as the fee costs can still be conditioned and are classified as very cheap for making meme coins then it will continue to happen no matter which network it is except if the gas costs are high like ETH maybe we will think twice about doing it.

[Abiky]

Yes, crypto will do fine even with meme coins. And I think that there will forever be meme coins. I am not expecting all the memecoins that we see today to keep existing. The truth is that a majority of them will fail, and only the ones that have the capacity to live long will be the ones that will stay. It’s just the same way we have seen so many altcoins come and go over the course of the past years. 

If a "meme" coin has strong community backing, it could last for a long time. Dogecoin was once thought to be a failure, only to succeed after it gained the attention of Elon Musk. Now it's hard to believe it'll go away anytime soon. The same could happen with other coins such as Shiba Inu and Pepe. While "meme" coins don't hold any value, they're a great way to learn how crypto works due to their inexpensiveness. You can send money around the world without "breaking the bank" (subject to the Blockchain's network fees).

Crypto newcomers will surely get into "meme" coins before trying out serious project such as Bitcoin or Ethereum. As long as scammers are taken down, there should be nothing to worry about. Who knows what future will "meme" coins have?

[Natalim]

I don't think that every meme coin will exists longer but some of them will end with the end of Bull season therefore don't trust too much on such type of coins. Some people will say good words about meme investment and some will be against it so everything is happen due to matter of choices and the way they find meme coins.

Every coin has its own importance so I don't think that meme coins will ruin every crypto coin because everyone is familiar about its risky nature and all they know better about top coins that they aren't risky as that of meme coins.

No use case projects will never stay long but gone shortly. Indeed, we may be seeing them in the hype and become popular but after the bull season and hyped event, we can't find them anymore. Or maybe some of them are just still there but people are ignoring it because they are worthless and dying.
And the topic is right - Meme coins ruin everything. Might some people disagree with it especially those who make a lot of money these days. They will be happy these days but if they keep holding and buying meme coins, that also gives them a reason to hate crypto.

[Mpamaegbu]

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?

Nothing stops the industry from being utility based and at the same time a speculative one. In fact, from all indications this industry has been more of a speculative one than utilitarian if we must follow facts as they're. Investors are coming into this space because of what ROI their capital will afford them within a specified or expected time range. Anyone who tells you they're only in this industry purely for its utility and not for the profit isn't being truthful.

Will the hype last forever?

I really don't know and I ain't sure anyone can confidently tell you that but I just wish it lasts forever. I like the excitement memes are causing in this space.

Do you think crypto will do fine with "meme" coins in the way?

The industry is already doing well with it. Whatever congestion in the Blockchain we see now will subside when the bull season is over.

[redsun114]

    Thanks, OP, for making this issue in this section about that. In my personal understanding of thinking, I think this is also the bull we are facing, and it looks like meme coins today.

     It is just a matter of observations. If 2017 had been an ICO season, it would have been a period of playtoearns or defigames, metavers and NFTs, and now meme coins. So as I see it, it doesn't seem like the meme is ruining some of the crypto. The development of the Sol Network is just as good as the development of the Sol Network, so many memes are usually under SOL because the fees are cheap.

Certainly, some meme coins, such as Doge and Shiba are likely to  endure because of the internet culture and backing of Influencer like Elon Musk and Vitalik Buterein (Founder of Ethereum), and most of them are likely to fail in the long term due to absence of any real life use case.

Certain crypto enthusiasts perceive meme coins as stress test for block chain networks due their high volumes of transactions. DYOR

Whatever, those two are still a meme coin and they are still covered in the hate of the people. Their reputation are already scratched, which is too bad for their supporters but they can only look at the bright side. Both coins are still standing strong and will likely to remain for many more years even though there is no groundbreaking increase that will take place. That's cool if meme coins truly acts like a stress test.

Now, can we still say that the meme coins has no use cases? Though established cryptos still got more volumes than them but meme coins are only lightweight and perfect from spamming, which can still be part of that test you are talking there.

[Abiky]

Nothing stops the industry from being utility based and at the same time a speculative one. In fact, from all indications this industry has been more of a speculative one than utilitarian if we must follow facts as they're. Investors are coming into this space because of what ROI their capital will afford them within a specified or expected time range. Anyone who tells you they're only in this industry purely for its utility and not for the profit isn't being truthful.

And developers seem to be "going on with the flow". They aren't focused on the quality aspect of their project as they've used to do in the past. I remember the early days was all about innovation mainly in the privacy and smart contracts area. Nowadays, it's all about worthless "meme" coins and NFTs with no purpose in life. The vast majority of these coins live within existing Blockchain networks. It's even worse these days because anyone can create a token without any coding knowledge whatsoever. This added convenience is what has made a lot of scams possible.

I sure hope we get to see independent Blockchains focused on utility and quality than anything else. Maybe with "Wall Street" joining the game, developers will start taking things more seriously? It's a crazy world we're living these days, so expect the unexpected.

[andyou1234]

I don't agree if meme coins are claimed to be able to destroy everything, but in my opinion the existence of meme coins is a huge advancement in the world of cryptocurrency, where some of us have been able to develop technology by creating new things. coin to be able to compete in the crypto market, but our task in using crypto is to study as much detail as possible the memecoin that we want to invest in, because if we are lucky meme coin can make us billionaires in a very short time.

[Webetcoins]

Memecoin craze in cryptocurrency world is very interesting. It is getting more popular every day. Some people are investing in memecoins to make quick money while others think memecoins could become more important. Memecoins could open up new possibilities for cryptocurrencies. For example Solana value went up because of memecoins. This shows how meme coins can affect market. Developers are also thinking to use memecoins in their projects showing how creative crypto community is. If people can balance excitement with practicality memecoins could do well in future. It will be exciting to see what happens next and if memecoins become a big part of digital assets.

Who thinks meme coins can become more important? Meme coins don't offer any utility, they don't serve a purpose, and they are created only to ride the hype and make both developers and investors money, however, only a few of them manage to do that out of hundreds that are created because not all of them manage to catch the hype from the community and get enough attention to gain significant value in a short period and provide huge profits to investors and developers.

Meme coins can only become more important if the developers create proper meme coin projects where the tokens or coins can be used for some practical purpose and holders of the meme coins can get some benefits or maybe utilize their tokens instead of just buying and selling them.

[oktana]

Yes, crypto will do fine even with meme coins. And I think that there will forever be meme coins. I am not expecting all the memecoins that we see today to keep existing. The truth is that a majority of them will fail, and only the ones that have the capacity to live long will be the ones that will stay. It’s just the same way we have seen so many altcoins come and go over the course of the past years. 

If a "meme" coin has strong community backing, it could last for a long time. Dogecoin was once thought to be a failure, only to succeed after it gained the attention of Elon Musk. Now it's hard to believe it'll go away anytime soon. The same could happen with other coins such as Shiba Inu and Pepe. While "meme" coins don't hold any value, they're a great way to learn how crypto works due to their inexpensiveness. You can send money around the world without "breaking the bank" (subject to the Blockchain's network fees).

Crypto newcomers will surely get into "meme" coins before trying out serious project such as Bitcoin or Ethereum. As long as scammers are taken down, there should be nothing to worry about. Who knows what future will "meme" coins have?

If you ask me, meme coins aren’t a good start for people who are looking to get into crypto. The great start is Bitcoin. Learning from who created it and why it was created, and then Ethereum and other altcoins, also learning why they were created. People who join crypto today are 99% likely doing it to make money, so if they want to learn how to make money from crypto and they’re starting on a risky ground. That’s dead.

[Dave1]

Yes, crypto will do fine even with meme coins. And I think that there will forever be meme coins. I am not expecting all the memecoins that we see today to keep existing. The truth is that a majority of them will fail, and only the ones that have the capacity to live long will be the ones that will stay. It’s just the same way we have seen so many altcoins come and go over the course of the past years. 

If a "meme" coin has strong community backing, it could last for a long time. Dogecoin was once thought to be a failure, only to succeed after it gained the attention of Elon Musk. Now it's hard to believe it'll go away anytime soon. The same could happen with other coins such as Shiba Inu and Pepe. While "meme" coins don't hold any value, they're a great way to learn how crypto works due to their inexpensiveness. You can send money around the world without "breaking the bank" (subject to the Blockchain's network fees).

Crypto newcomers will surely get into "meme" coins before trying out serious project such as Bitcoin or Ethereum. As long as scammers are taken down, there should be nothing to worry about. Who knows what future will "meme" coins have?

If you ask me, meme coins aren’t a good start for people who are looking to get into crypto. The great start is Bitcoin. Learning from who created it and why it was created, and then Ethereum and other altcoins, also learning why they were created. People who join crypto today are 99% likely doing it to make money, so if they want to learn how to make money from crypto and they’re starting on a risky ground. That’s dead.

So true, meme coins are not good for starters here, and maybe they got this idea from so called crypto influencers that they can make a lot of money by investing on this meme coins. But that is wrong in the beginning, they should start from Bitcoin or the top altcoins.

I have nothing against those who invest on meme coins, but it's a different risk and I don't have that kind of appetite to begin with. I don't like to take that risk and plunge to meme coin because I did that once and it didn't turn out good with a $1k investment and lost everything.

[mich]

Well I do think there is so many meme coins now. That there is good chance that most of them will turn into nothing but shitcoins.
But I am interested when a major token does a meme coin. Solana meme coins are big interest for people and new meme coin called Slothana. 
And there is some people already who is making millions trading it. https://crypto.news/traders-think-slothana-could-be-the-next-big-solana-meme-coin/

[Abiky]

Well I do think there is so many meme coins now. That there is good chance that most of them will turn into nothing but shitcoins.
But I am interested when a major token does a meme coin. Solana meme coins are big interest for people and new meme coin called Slothana. 
And there is some people already who is making millions trading it. https://crypto.news/traders-think-slothana-could-be-the-next-big-solana-meme-coin/

It's insane. People are wasting money into worthless tokens that are only driven by hype. What real use cases does a "meme" coin provide? Nothing. It seems like Solana will become the #1 chain for this kind of garbage. It's the only thing that's been "pumping" SOL's market price (besides the sale of the Saga smartphone). I wonder how low will Solana go once the "meme" coins hype comes to an end?

Instead of focusing on "meme" coins, people should pay more attention to serious cryptocurrency projects. I'm talking about Bitcoin, Ethereum, and the likes. You're more likely to build generational wealth with BTC and ETH, than any of the "meme" coins listed across mainstream crypto exchanges. Considering that "meme" coins are a passing trend, expect 99% of them to die in the future. Only Dogecoin will survive because it's the oldest "meme" coin in existence. Crypto land behaves in many strange and bizarre ways, so expect the unexpected.

[oktana]

Yes, crypto will do fine even with meme coins. And I think that there will forever be meme coins. I am not expecting all the memecoins that we see today to keep existing. The truth is that a majority of them will fail, and only the ones that have the capacity to live long will be the ones that will stay. It’s just the same way we have seen so many altcoins come and go over the course of the past years. 

If a "meme" coin has strong community backing, it could last for a long time. Dogecoin was once thought to be a failure, only to succeed after it gained the attention of Elon Musk. Now it's hard to believe it'll go away anytime soon. The same could happen with other coins such as Shiba Inu and Pepe. While "meme" coins don't hold any value, they're a great way to learn how crypto works due to their inexpensiveness. You can send money around the world without "breaking the bank" (subject to the Blockchain's network fees).

Crypto newcomers will surely get into "meme" coins before trying out serious project such as Bitcoin or Ethereum. As long as scammers are taken down, there should be nothing to worry about. Who knows what future will "meme" coins have?

If you ask me, meme coins aren’t a good start for people who are looking to get into crypto. The great start is Bitcoin. Learning from who created it and why it was created, and then Ethereum and other altcoins, also learning why they were created. People who join crypto today are 99% likely doing it to make money, so if they want to learn how to make money from crypto and they’re starting on a risky ground. That’s dead.

So true, meme coins are not good for starters here, and maybe they got this idea from so called crypto influencers that they can make a lot of money by investing on this meme coins. But that is wrong in the beginning, they should start from Bitcoin or the top altcoins.

I have nothing against those who invest on meme coins, but it's a different risk and I don't have that kind of appetite to begin with. I don't like to take that risk and plunge to meme coin because I did that once and it didn't turn out good with a $1k investment and lost everything.

Sorry for your loss. I’d say it was your luck. Probably at the same moment you lost that money, someone else got rich from a meme coin. If I had $1k to invest in meme coins, I think it’d be smarter to spread it across various meme coins (instead of in just one), proportioning the money based on how much trust you have for the meme coins.

[Abiky]

Sorry for your loss. I’d say it was your luck. Probably at the same moment you lost that money, someone else got rich from a meme coin. If I had $1k to invest in meme coins, I think it’d be smarter to spread it across various meme coins (instead of in just one), proportioning the money based on how much trust you have for the meme coins.

The risk of loss will always be there. Even if you diversify your investment across multiple "meme" coins. You're much safer investing in BTC and ETH alone than "meme" coins. If you're looking to make short-term returns, "meme" coins are for you. Otherwise, I'd suggest you look elsewhere.

Among the popular "meme" coins on the market, I think only Dogecoin will survive for generations. Shiba Inu comes close to it in terms of community support. The Shibarium L2 network is one of the latest innovations from the Shiba Inu project. Other "meme" coin projects are lacking behind in this regard. For what I know, the crypto market is unpredictable. Hence, it's advised to proceed with caution to avoid losing everything in an instant.

[oktana]

Sorry for your loss. I’d say it was your luck. Probably at the same moment you lost that money, someone else got rich from a meme coin. If I had $1k to invest in meme coins, I think it’d be smarter to spread it across various meme coins (instead of in just one), proportioning the money based on how much trust you have for the meme coins.

The risk of loss will always be there. Even if you diversify your investment across multiple "meme" coins. You're much safer investing in BTC and ETH alone than "meme" coins. If you're looking to make short-term returns, "meme" coins are for you. Otherwise, I'd suggest you look elsewhere.

Among the popular "meme" coins on the market, I think only Dogecoin will survive for generations. Shiba Inu comes close to it in terms of community support. The Shibarium L2 network is one of the latest innovations from the Shiba Inu project. Other "meme" coin projects are lacking behind in this regard. For what I know, the crypto market is unpredictable. Hence, it's advised to proceed with caution to avoid losing everything in an instant.

I agree with you. For the $1k I mentioned, I was assuming the person has done the normal rites of investing in top currencies. I know some people invest just in meme tokens, but I think it’s best to have decent amounts of Bitcoin, ETH, and top solid coins so they have something strong to fall back on if anything went wrong with their meme coin investment.

[o48o]

If meme tokens are ruining everything, then the fault lays in the core of the platform itself, as the whole idea of permissionless transactions is not to control people. If you set people free, they act as they wish, not how we or you wish. It's only freedom of the people we can blame for that. No one is facing any consequences for acting immaturely or stupid, because that's build on the core of the design. I can't see why they would go away as they have just grown since start of dogecoin. So as long there are people there will be some abstract meme tokens and imho we just embrace them as a sign of freedom.

It might be frustrating, but freedom will bring in the worst and the best of people, and because majority of people are quite stupid, stupidity will overcome reason any day.

Blockchain developers should increase on-chain transaction capacity to prevent "meme" coins from clogging the network. Or they could force everyone to move to a L2 network for complete peace of mind (like how Ethereum is doing today). The problem with "meme" coins is that most of them are simple tokens living on existing blockchain networks. This tells us that developers are none other than "script kiddies" or amateur coders without any Blockchain experience. The only exception is Dogecoin because it has its own chain. If all of the "memes" had their own chains, crypto land would be a better place.

I hope to see more quality over quantity in the crypto industry soon. Projects that actually have a real use case and aren't driven by hype/speculation. It's only been 15 years since the inception of BTC, anyways. Crypto/Blockchain tech is just starting to blossom. Maybe it will mature sometime in the future?

Enforcing something like that would mean some serious changes to L1 that most people wouldn't agree with.
It also most likely would make everything even more centralized, as there would need to be a consensus where people would need to agree about very specific definition of a "meme" token.

That would create more tokens that would just game the system and change themselves just enough to bypass the definition. They would add smallest amount of functionality that fooled most of the people, and teams wouldn't call them meme tokens, even if they would be identical to them. Concept of meme is very vague, and it seems like a lost fight to me. Some of them would seem like a meme from the outside, because meme sells, and at the same time good experimental tech under the hood. And at the end, chain would end up just full of copycat tokens that have basically identical code.

With freedom comes also insufferable stupidity, and that's going to be enforced by at least 50% of population. So i wouldn't put any trust on stakers voting for coins that get to be in L1 either. Even if they wouldn't want those tokens in L1, there would be a problem with stakers selling their votes when new meme tokens wanted in L1.

[Ben Barubal]

     Maybe the title is wrong; maybe for others it can be ruining, but for the majority of people who believe in meme coins, I don't think so. Although most of the meme coins are just memes, literally speaking, Because there are many poor people who want to advance in life.

     And meme coins are what they see as the hope that can do this because of the few meme coins that suddenly become successful in the crypto business industry and suddenly make others rich, which is like betting on the lottery, where when you suddenly pump or increase the price value in the market, it is sudden wealth.

[SATWAT]

     Maybe the title is wrong; maybe for others it can be ruining, but for the majority of people who believe in meme coins, I don't think so. Although most of the meme coins are just memes, literally speaking, Because there are many poor people who want to advance in life.

     And meme coins are what they see as the hope that can do this because of the few meme coins that suddenly become successful in the crypto business industry and suddenly make others rich, which is like betting on the lottery, where when you suddenly pump or increase the price value in the market, it is sudden wealth.

Everyone is having his own point of view about this all but I have to be agreed with OP because there is no doubt meme coins are ruining, and many newbies are losing their money which is important for them with greediness kills but no one trying to understand and taking their chances in this fake world which is set for the having their hard-earned money through these meme coins which are completely fraud.
We need to understand ground realities with things are surely going to be on wrong side with these fake things which are really hurting crypto world as well but no one can do anything about this all still we have large members of this community those are having big loses due to them and now want to create well awareness about this all but its never been easy.

[Abiky]

Enforcing something like that would mean some serious changes to L1 that most people wouldn't agree with.
It also most likely would make everything even more centralized, as there would need to be a consensus where people would need to agree about very specific definition of a "meme" token.

That would create more tokens that would just game the system and change themselves just enough to bypass the definition. They would add smallest amount of functionality that fooled most of the people, and teams wouldn't call them meme tokens, even if they would be identical to them. Concept of meme is very vague, and it seems like a lost fight to me. Some of them would seem like a meme from the outside, because meme sells, and at the same time good experimental tech under the hood. And at the end, chain would end up just full of copycat tokens that have basically identical code.

With freedom comes also insufferable stupidity, and that's going to be enforced by at least 50% of population. So i wouldn't put any trust on stakers voting for coins that get to be in L1 either. Even if they wouldn't want those tokens in L1, there would be a problem with stakers selling their votes when new meme tokens wanted in L1.

I guess you're right. There's nothing we can do to stop the "meme" coins craze. Especially when crypto is all about freedom. Its decentralized and open source nature allows anyone to experiment on it without restrictions or limitations of any kind.

Despite the fact that "meme" coins increase network congestion, they're a great way to attract noobs into the world of crypto. You can thank their inexpensiveness for that. I've seen "meme" coins being built on L2 networks to enhance user experience. Dogecoin has its own chain, but it might need some scaling improvements if the masses use it like crazy. Don't expect "meme" coins to become serious long-term investments due to their high inflation rates. Nothing can beat the "King" (Bitcoin), anyways. Who knows where the future will lead the crypto/Blockchain industry? 

[fullhdpixel]

    Maybe the title is wrong; maybe for others it can be ruining, but for the majority of people who believe in meme coins, I don't think so. Although most of the meme coins are just memes, literally speaking, Because there are many poor people who want to advance in life.

     And meme coins are what they see as the hope that can do this because of the few meme coins that suddenly become successful in the crypto business industry and suddenly make others rich, which is like betting on the lottery, where when you suddenly pump or increase the price value in the market, it is sudden wealth.

Those who haven't experienced losses in meme coin investments so far wouldn't think this way about them because they are still hopeful if they have made investments in them. Most meme coin investors these days are investing in them after reading or hearing about the success stories of people who managed to become millionaires or earn significant profits from their meme coin investments, and they will only learn about the reality if they experience some consecutive losses.

Those of us who have experienced it already understand that meme coins are mostly useless because even if they have become a very popular trend, you can't know which one might explode and you will most probably waste all your money unless you are lucky and one of them you have invested in manages to gain significant value.

[Pithaxz]

Yes I think Meme coins play both a positive and negative role in the cryptocurrency market. Yes, they make cryptocurrencies a little frivolous and clog up blockchains. At the same time, they force developers to improve blockchains and increase their scalability.

[Joseph-P]

Well I do think there is so many meme coins now. That there is good chance that most of them will turn into nothing but shitcoins.
But I am interested when a major token does a meme coin. Solana meme coins are big interest for people and new meme coin called Slothana. 
And there is some people already who is making millions trading it. https://crypto.news/traders-think-slothana-could-be-the-next-big-solana-meme-coin/

It's insane. People are wasting money into worthless tokens that are only driven by hype. What real use cases does a "meme" coin provide? Nothing. It seems like Solana will become the #1 chain for this kind of garbage. It's the only thing that's been "pumping" SOL's market price (besides the sale of the Saga smartphone). I wonder how low will Solana go once the "meme" coins hype comes to an end?

Instead of focusing on "meme" coins, people should pay more attention to serious cryptocurrency projects. I'm talking about Bitcoin, Ethereum, and the likes. You're more likely to build generational wealth with BTC and ETH, than any of the "meme" coins listed across mainstream crypto exchanges. Considering that "meme" coins are a passing trend, expect 99% of them to die in the future. Only Dogecoin will survive because it's the oldest "meme" coin in existence. Crypto land behaves in many strange and bizarre ways, so expect the unexpected.

First of all, I wouldn't call it a "waste" since its their money and they are free to spend it the way they deem fit. But that aside, this is part of the features of a bull market and we have to get used to it. I myself don't believe its smart, but some people are truly printing millions through this means, so who are we to judge?

[Abiky]

First of all, I wouldn't call it a "waste" since its their money and they are free to spend it the way they deem fit. But that aside, this is part of the features of a bull market and we have to get used to it. I myself don't believe its smart, but some people are truly printing millions through this means, so who are we to judge?

Of course. People are free to do whatever they want with their money. It's a "free market" after all. But I think there should be some regulatory action to help prevent scammers from making baseless projects that will eventually ripoff people. Around 99% of "meme" coins are like this. Still, you can lose money with legitimate ones. Especially when they have a large supply. More coins in circulation = high inflation = lower value in the long run. People get what they pay for.

Among the zillions of "meme" coins on the market, only one has its own Blockchain network (Dogecoin). The rest are built on existing chains which ultimately makes them useless as fees rise like there's no tomorrow. They should move to an L2 network or a Blockchain of their own. At least the competition is healthy. As long as decentralization prevails, there should be nothing to worry about.

[sotelorene]

They are not ruining everything but they serve their own purpose.
Many are still making money with the meme tokens despite of being manipulated and hyped. If you’re into the meme token then you can see this as an opportunity to make money but if you are a victim of scam meme token then you’ll see a different description of the meme tokens

You are right mate, but to an extent I think memecoins are a kinda distraction to some higher investors though there are people who are actually feeding from it that's why we can't use one side to justify it. They are just like those cheap products imitation we are actually see in the market.

[Abiky]

You are right mate, but to an extent I think memecoins are a kinda distraction to some higher investors though there are people who are actually feeding from it that's why we can't use one side to justify it. They are just like those cheap products imitation we are actually see in the market.

Of course "meme" coins are a distraction. They lure developers away from building quality projects into overhyped projects with no substance to them. Quantity has replaced quality ever since Elon Musk brought the "meme" coins craze. I'd say the only "legitimate" "meme" coin is Dogecoin. The rest are just pure garbage. Especially when they live on existing Blockchain networks.

It's easy enough to create a token on a smart contract platform these days. But building and running your own chain is a whole different story. Hopefully, people get their mind straight about investing in "meme" coins before it's too late. Who knows what the future of the crypto/Blockchain industry will be?

[AnonBitCoiner]

I don't agree if meme coins are claimed to be able to destroy everything, but in my opinion the existence of meme coins is a huge advancement in the world of cryptocurrency, where some of us have been able to develop technology by creating new things. coin to be able to compete in the crypto market, but our task in using crypto is to study as much detail as possible the memecoin that we want to invest in, because if we are lucky meme coin can make us billionaires in a very short time.

Meme coins are not the cause of spoiling your finances but it is you that refused to take benefit by selling on time but focused on greed in hope of more elevation in price. Meme coins are worthy but it keeps for minimum timing and accepts the minimum profit that these meme coins offer as they are not always in a pumping position.

People should invest in top coins for a longer time and at the same time if they put little amount in meme coins then they can make huge money in no time but every meme coin is not the same but it will also take time to search for the better meme coins.

[yazher]

The problem with Meme coins is they create fake developments to lure their investors without any hope of continuing it later and they are just doing it right now to attract more investors also there are lots of them right now because they are the most trending investment in altcoins since Doge and Shiba Inu have been successful for the last years and people wanted to do the same thing hunting for those new Memecoins hoping to buy the right one and sometimes they even spent a huge amount of money that is not appropriate in such kinds of investment. they need to know at the same time scammers are also in the same boat with them and luring them as well to invest in their projects disguised by some god to be true roadmaps that will never be reached in the future.

[tengui]

It makes sense because the growing hype for meme coins means that meme coin transactions also continue to increase, and this results in network fees also increasing. and of course utility altcoins are also impacted by the increase in transaction fees. In my opinion, this is a problem that cannot be avoided because one of the disadvantages of cryptocurrencies is that transaction fees often change (depending on transaction density).

[DiMarxist]

Memecoins are just in the system to worry the network and they are coming every day and most of them are just in the internet doing nothing. Some of them are there to increase the number of coins in the ecosystem.

It makes sense because the growing hype for meme coins means that meme coin transactions also continue to increase, and this results in network fees also increasing. and of course utility altcoins are also impacted by the increase in transaction fees. In my opinion, this is a problem that cannot be avoided because one of the disadvantages of cryptocurrencies is that transaction fees often change (depending on transaction density).

Not everyone benefits from Memecoins. Many when they are created, they would increase rapidly in price And Market cap but later reduce to zero and everything got burned. Many of them have been in the ecosystem marketplace but they are not developing.

[Kezacky]

 Meme coins are just pump and dumps hoping they will catch on with enough people and keep their scam going longer. while the meme coins may offer the illusion of easy money, the reality is far more sobering, better to avoid taking risk in such speculative assets.