The cryptocurrency market is abuzz with activity as the anticipated altseason approaches. While Bitcoin’s price has surged, meme coins continue to dominate the spotlight. The participants of the market are aware that nothing stands behind these coins. Memecoins lack intrinsic value and don’t have technological backing. Still these tokens are captivating the market.

In some cases, developers resort to outrageous tactics to attract attention to their tokens, setting themselves on fire or performing dangerous stunts during live streams, available on Pump.fun. Even prominent industry leaders paid attention to this growing frenzy.
Changpeng Zhao (CZ), former Binance CEO, recently voiced his concern on X (formerly Twitter):

“I am not against memes, but meme coins are getting "a little" weird now.
Let's build real applications using blockchain”.

His statement sparked the debate in the crypto community. Pursuit for hype surrounding these coins has turned into madness. Many agreed with CZ, while others criticized Binance for listing new meme coins, urging the platform to discontinue this practice. It can be hard to cater to market demand and promote innovations at the same time.

Though meme coins lack substance, these digital assets attract new participants to the crypto industry, so they serve a unique purpose. Crypto industry needs new people to develop. Drawn by their allure and entertainment value, new users enter the sphere effortlessly. Later they might transition to more serious and technologically advanced digital assets.