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<p>Arthur Hayes has dismissed criticism labeling meme coins as “stupid and valueless,” saying the tokens can have a positive value on the blockchains they are created on.</p> 
<p>While <a href="https://www.youtube.com/watch?v=VGlCevPdFKU" target="_blank" rel="noopener">speaking</a> with the CEO of Real Vision, Raoul Pal, the BitMEX founder said blockchains supporting the meme coin culture would have value in the long run.</p> 
<p>Hayes opined that the recent boom in Solana was influenced by meme coins. The Solana blockchain has recorded an uptick in activity after a meme coin frenzy driven by Dogwifhat (WIF), BONK, and Book of Meme ($BOME).</p> 
<p>The increased activity makes the chain attractive to blockchain developers seeking to launch projects on a network that has users.</p> 
<p>“You can poo-poo these things as stupid and valueless, but if it brings attention, if it brings more engineers to the space, then it’s positive value to the chain itself,” he argued.</p> 
<h2 id="meme-coins-should-become-more-useful-and-charitable">Meme Coins Should Become More Useful and Charitable</h2> 
<p>Ethereum co-founder, Vitalik Buterin, recently opined that while he had zero enthusiasm for meme coins, these projects should work on being useful and charitable.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">What else could memecoins be?<a href="https://t.co/8ZVhwkVwLy">https://t.co/8ZVhwkVwLy</a></p> 
 <p>— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1773636178236895583?ref_src=twsrc%5Etfw">March 29, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>According to Buterin, meme coins should be created for charitable causes or work on having utility in use cases such as in gaming.</p> 
<p>However, the co-founder of Solana Labs, Anatoly Yakovenko, believes that the logic behind meme coins donating towards a good cause as penance is “nihilistic.”</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Memecoin are bad, but if they donate to a public good then they have paid a penance for the bad thing. </p> 
 <p>I find this logic to be nihilistic. </p> 
 <p>I’d rather see people that hodl a memecoin change their behavior and go do something good, like walk dogs at a dog shelter and encourage…</p> 
 <p>— toly 🇺🇸 (@aeyakovenko) <a href="https://twitter.com/aeyakovenko/status/1773842554334904548?ref_src=twsrc%5Etfw">March 29, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Yakovenko says instead of donating towards charitable causes, meme coin holders should work on changing their personal behavior.</p> 
<p><a href="https://insidebitcoins.com/visit/dogecoin20" target="_blank" rel="noopener nofollow">Dogecoin20</a>, a newly launched meme coin, is working towards having a positive impact on the community with its “Do Only Good Everyday” principle. The meme coin, whose presale has raised over $10 million, depleting its presale tokens as it leverages the influence to support charitable initiatives, community projects, and noble causes.</p> 
<h3 id="also-read">Also Read:</h3> 
<ul> 
 <li><a href="https://insidebitcoins.com/news/apewifhat-price-prediction-apewifhat-soars-127-but-is-this-solana-meme-coin-rival-the-next-cryptocurrency-to-explode">ApeWifHat Price Prediction: APEWIFHAT Soars 127%, But Is This Solana Meme Coin Rival The Next Cryptocurrency To Explode?</a></li> 
 <li><a href="https://insidebitcoins.com/news/newest-solana-based-meme-coin-with-unique-presale-can-it-be-the-next-big-thing">Newest Solana-Based Meme Coin with Unique Presale – Can It Be the Next Big Thing?</a></li> 
 <li><a href="https://insidebitcoins.com/news/oscar-ramos-analyzes-this-new-low-market-cap-crypto-gem-dogecoin20-presale-review">Oscar Ramos Analyzes This New Low Market Cap Crypto Gem – Dogecoin20 Presale Review</a></li> 
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Arthur Hayes Says Meme Coins Can Be A Net Positive For Blockchains

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