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Are memecoins ruining crypto?


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It's 2024 and since late 2023 it has mainly been shitcoins and dumb ass memes that people and degens have been capitalizing on for massive profit and thus this memecoins have huge communities and I believe it's this memes that are soaring the popularity of the SOL chain. I think some people might consider this deviation from what they want crypto to be which is a decentralization of many products which take power away from a centralized community and to the owners of these creations

I came across a project today that reminded me of the decentralization dream, Love Power Movement or LPM(funny name I know lol), It's one of those web3 artists and NFT marketplace where artists get t monetize their art and all but what's peculiar about this project is it had no presale or funding and it's purely pushed by the community. It's a really interesting one, I think the token lists on Bitget exchange sometime this week

What do you guys think about this

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Memecoins like Dogecoin are controversial in crypto. While many people say they make the market more volatile, I guess they bring more people into crypto, popularizing it among huge audience. And the fact that widely-known and trusted crypto exchanges such as ChangeNOW, Binance, and Coinbase support them only proofs that.

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