The memecoin market surged to a valuation of $79 billion, reflecting a 43% increase since the end of June. This growth was attributed to a blend of presale excitement, community engagement, and new launchpads for memecoins. Despite the impressive numbers, opinions among crypto leaders are sharply divided. Anthony Anzalone, CEO of Xion, criticized the memecoin phenomenon, arguing that it undermines the hard work put into legitimate crypto projects and indicates a lack of better investment opportunities in the market. Conversely, a community leader from Neiro stated that memecoins represent an attractive segment of the cryptocurrency space, emphasizing their simplicity and market appeal. He noted the maturity of various projects within this sector, which could contribute positively to broader perceptions of crypto. Petr Kozyakov, co-founder of Mercuryo, acknowledged the culture surrounding memecoins, asserting their ability to build loyal followings, even amid conflicting views on their impact.

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