Is every rally in the crypto space supposed to be met with enthusiasm? I know we are interconnected and should support as well as collaborate with each other but is every project worthy of that support? The obvious answer is no. We have identified good actors, bad actors and indifferent actors in the space and obviously shouldn't be lending any support to those who may bring the chain down long term.

The recent Pepe coin rally is one that calls for some reflection. It was significant enough to lift the entire market and prompt a mini rally. The coin itself transformed early investors into overnight millionaires (that still happens?). It showed that despite the lessons and perceived maturity of the space, many are all about returns and are less interested in the long term value or sustainability of the crypto industry.

Few can highlight any useful potential these memecoins possess, other than an ability to attract attention and experience massive surges, delivering sometimes obscene returns to its investors. One memecoin investment that the right time could set any crypto investor for life. Yet with the exception of Dogecoin which might have a future in payments, there isn't any real proof of value for the now dozens of memecoins that are flooding the industry. What's more, investors know this and are quite comfortable with it.

Obviously if we want to be here a very long time memecoins are not the way to go. You'd think they'd die off naturally but it seems only something like targeted regulation would do the trick. If one memecoin goes out of fashion, another one is simply introduced which investors are willing to eagerly bet on its short term value. Being very vocal about their lack of use doesn't help either, as it would be seen as two people on the same team going at loggerheads. We all want the crypto space to grow, but we must recognize that perhaps not everyone's goals align with the crypto vision.

While we may seek growth and acceptance, which would eventually translate into wealth created for us early investors, some people see things from an entirely different perspective. For instance, many are more concerned about their personal financial profiles than the entire crypto space. The reality is that many investors just want to huge make profits irrespective of how sustainable the investment is. That is one mentality behind the success of ponzi schemes, but unfortunately it is not in our power to effectively tackle.

Conclusion

We must be careful though, giving our attention and resources to the wrong projects and investments. Crypto for all intents and purposes is a revolutionary technology, but it requires the right kind of innovation, motive and support to effectively propel it forward