memecoins contribution to the crypto space has been forcing investors to be more honest about what they are buying
a lot of these alts are akin to buying startup equity before they've shown any signs of growth but instead of a seed round < $100M they come out the gate at $1B FDV, they're tech-memecoins
memecoins let retail trade attention in its purist form, & would have had zero impact on altcoins with 1) real businesses behind them or 2) narrative for growing at a substantial rate + concrete proof of that happening (see: solana & hyperliquid performance for proof)
a lot of people decry the existence of memecoins as scams but the honest truth is that they are more honest coins than the other 99% of tech-memecoins that have no proven PMF and are also just trading off of speculation & attention
i did a lot of research on fuel prior to launch, the tech is actually some of the coolest out of the rollups, but market is now unrelenting in pricing these things downward until they show real adoption via users or apps on their platforms, & until they do they're getting re-rated at the same valuation of regular seed startup ideas