Knowing that the crypto market is just full of different trends, a particular trend reigns for some time, and it fades away, in the next few years a different one appears with a different utility, investors will rush into it for short term profits. Some will get scammed along the line, and some will make good profits before the trend ends.
The explanation I gave above is how the market had been operating for a long time. Each trend comes and goes, for another one to take over the crypto space. We don't know the exact one that will take over from memecoin and telegram mining before the year 2027
Meme coins are the number one reason why the altcoin were too dilute. There was a report yesterday about the number of coins that were launched from 2023 to 2026 and it was amounting to millions of alt coins and my first conclusion was that 99% of those coins are meme coins, everyone want to make quick money by launching useless coins on different blockchain and now they are of no use again, just typical pump and dump cycle thing.
I hope we have another trend but this time the trend is going to be coins with innovation, coins have a team that are transparent and nobody is allow to rug otherwise the developers behind the project will always look for an excuse to want to be ahead to sell coins. This things are the number one reason why we haven't gotten an Altcoins season all this while and it's not helping. I will be proud one day if we finally get to see that alt season for all coins.