Memecoins like DOGE, SHIB, and PEPE defy expectations with rising valuations and community growth driven by viral marketing and support, showing unique value in the crypto space.
This article highlights the necessity for memecoins to adopt an ecosystem approach for sustainability, as they face challenges like lack of utility and struggles to maintain traction.
Memecoins, originally internet jokes, gained momentum with coins like Doge, signaling a significant trend in the crypto space despite lacking intrinsic value or utility.
Challenges for memecoins include lack of real-world utility, high volatility, and susceptibility to pump-and-dump schemes, questioning their long-term viability.
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