The Memecoin Craze is worse than the ICO Craze IMO.

Just scrolling through CryptoMoonshots or SSB shows the scale the craze has taken. New coins who are 1/1 copies of other meme shitcoins manage to raise millions in just a matter of days, before everyone cashes out and moves to the next one. Some get rugpulled (liquidity drained) or just seem to fade into oblivion.

How it all works.

Some are stealing copyrighted content like PIKA (Pokemon) or Marvelcoin without even trying to hide this scummy behaviour. These devs will likely face a lawsuit, especially Nintendo & Marvel hate the abuse of their brand names. Almost all these tokens are facilitated by the Binance Smart Chain, mostly because the low fees and the relative anonymity. On BSC coins can't be censored due to its decentralised nature (up to debate of course), meaning Binance can't stop it. What bothers me even more is these subreddits both facilitating the obvious PnD schemes, it's morally wrong imo. A lot of people will lose money, but they can't be bothered with proper moderation.

Greed.

These coins expose the worst aspect of human nature, greed. They shill these shitcoins everywhere because the earlier investors want to dump it on the next fool. Morals don't seem to matter anymore, they all want the next ''100x'' and they'll do anything to make it happen.