If every good crypto projects are been adopted like how people are adopting meme tokens today what do you think would have happened to crypto market already? If shiba never existed and doge never surge as much as it did and the only option for new investors is BTC and others would this have bring BTC to 80k already ?
Research have shown that people are mainly drawn to memecoins due to fomo and not because of the value they bring in and when this fomo dies down (it always does ~ 99% of the time), money will start flowing back to projects that actually provide a value. When the hype goes away, people can't have any utility with those memecoins. That was what happened with Dogecoin and since then, it's been stagnant. When the market goes bearish, I reckon, they would be the ones to fall the hardest.