In 2024, even celebrities like Iggy Azalea issued memecoins that saw a jack-up in their prices. With platforms like Pump.Fun, creating memecoins wasn't particularly difficult. There were more than 4.7 million coins with a total value over $100 billion. Never mind their very speculative nature, hedge funds invested in memecoins for high returns. Still, critics say they're harmful to the reputation of the cryptographic money industry.
