**Mark Cuban Criticizes Memecoins on Rug Radio Podcast**

Investor Mark Cuban recently shared his thoughts on the crypto industry during an appearance on the Rug Radio podcast. Cuban labeled all memecoins as "drawn-out rug pulls" with no real-world utility, likening meme trading to a game of "musical chairs" and roulette. He argued that while memecoins may have strong communities, they lack staying power and are driven by the Greater Fool Theory, where investors hope to sell overvalued assets to others at a profit.

Despite his skepticism, Cuban admitted to occasionally considering trading memecoins but has always refrained from doing so.

In related news, 381,401 new memecoins were created on the Solana network in the last 30 days, many of which lose significant value shortly after launch. However, some memecoins, like PEPE and Dogwifhat (WIF), have seen temporary gains, although these gains often don't last.