And I am especially talking about those memecoins like dogecoin, shiba inu and those other coins that pump and dump in those shiba doge and those make up coin names? There is zero purpose of these coins. They had that squid game token I believe. What is the purpose of these coins? It literally sounds like someone creating a video game and making up coins. The worst part is you have people buying these coins to most likely try to make a profit and then sell since rarely are these coins meant for holding.
Well i have to say that i totally agree with you here and i also think that all those meme-coins are completely useless as they have no functionality and they are providing not service or other stuff for it's investors and users. The reason why they exist even though they don't have a purpose is quite simple. Dogecoin was invented as a likeable, kinda ironic community project and is around for many years now, everything is fine with that. Then the tweets of Elon Musk about came out where he said he likes Dogecoin and the whole meme-coin craze started. Then we saw literally 1000's of new meme-coins appearing each and everyday. Not because people wanted it, but because the people that were creating those coins wanted to make money with as little effort as possible. Thank god the meme-coin hype is dying at the moment and in a year or two only a few of them will still be alive.