Due to lack of ideas, market makers pushed memecoin to become the strongest trend in the cryptocurrency market recently. Its consequences are very negative for the market:
1. Capital flow consequences: Memecoin Devs will earn money and convert it into houses, cars, and entertainment instead of reinvesting it in the market. => Capital flow out will be greater than flow in.
2. Loss of trust: memecoin turns the crypto market into a literal gambling den.
3. Real tech projects will have a hard time raising capital.
4. Making blockchain applications in real life slow down by many years.
(A little spice is fine. But too much will ruin the market.)