I don't know. I found it's more difficult to choose meme coin projects that could bring me massive profits compared to projects with utility. I mean, it's really difficult to find certain criteria to see that those meme coin projects are great (compared with projects with utility, which I know what to expect, like the working products or the utility itself). Additionally, I feel insecure about investing in meme coins because most of those projects have anonymous developers. I think meme coin projects are not suitable for my preferences in investing in general.
One of the reasons why a project with utility (as you’ve said) is better than a meme coin is that the project with a utility has a better potential to be a big project than a meme coin that if it doesn’t get popular or known, you will likely not make anything out of it because that hype is normally needed. But a project that solves a problem through its utility, slowly and steadily, if they are genuine and doing everything right, they’ll eventually be recognized and their products or services would sell based on their actually importance.
That is correct, but at the same time with the huge amount of coins which have been created over the years, is there still some kind of application for the blockchain which has not being tried over and over again?
After all how many privacy coins, or any other coin by that matter, could we possibly need? I really think we have reached a saturation point and it is why we see so many meme coins today, since people can feel the same and they see in meme coins a better chance for them to multiply their money.
If you asked, I’d just shrug my shoulders saying that there’s nothing else that could be implemented. But the truth is otherwise. Crypto isn’t the best innovation that they’ll be. There could be a new technology tomorrow, etc. Humans don’t have limit to how much they could imagine so even in the current “saturated” market, a unique idea/solution can still suffice. There could be a way to play with meme tokens and it will make them worth more.