pure memecoins are a pyramid scheme that will collapse as soon as 

A) the same people keep winning (as this means the average person is losing $ consistently)

and

B) new buyers entering the system are exhausted (there's a limited amount).

A is already happening (KOLs are driving token prices top down) & not sure how much of B is left.

History rhymes - exact same thing happened with NFTs.

Building Larry, FOSS via @frames, @framesfun /open-frames to help decentralized social win. a16z CSX23. farcasterchannels.com farcaster.id

I could never understand the people wanting to apply the memetics of these coins into more serious context. Think they had the wrong metrics, were just looking at the money. Predictably they ended up with a lot of vapid projects that did nothing and only collected funds, gave back nothing. Net negative unsurprisingly.