Meme coins and other "game" type cryptocurrencies are becoming increasingly popular in the crypto markets, and many acknowledge their role in drawing attention to cryptocurrencies and increasing awareness of blockchain technology. However, when a meme coin performs incredibly well while innovative, genuinely technically-backed cryptocurrencies fall behind, it's understandable to feel disappointed.
Some argue that the role of meme coins and other "game" type cryptocurrencies is to appeal to younger generations who may not be interested in traditional finance. Such cryptocurrencies are easier to understand and more accessible to the average person, and greater interest can make them more well-known. However, as you mentioned, meme coins are essentially gambling, and their long-term value is not guaranteed.
Innovative, genuinely technically-backed cryptocurrencies, on the other hand, are more based on general acceptance, usefulness, and long-term value appreciation. These projects seek to solve real problems and offer new, safer, and more efficient solutions in finance and other sectors using blockchain technology.
Cryptocurrencies are still relatively new instruments, and their market is extremely volatile. However, when evaluating a genuinely technically-backed cryptocurrency, its long-term potential and value appreciation determine its value, not short-term price increases or speculation. Therefore, it's important to keep track of the overall development and value of cryptocurrencies and not get caught up in momentary hype or gambling.
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