This is a recent development in crypto where celebrities are now launching coins. I have been reading many threads on what could be its effects but I personally have mixed feelings.

1. Celebrities have large followers. Their coins could introduce their fans to web 3 and crypto.
2. They are using it to exploit people. Some of their tokens have pumped and dumped within 24 hours of launching. This could affect crypto negatively.
3. Most celebrities launch meme coins? Why cant they launch a project that has utilities.

What do you think could be the short term and long term effects of the celeb trend?