However, not all crypto projects have clear value. Memecoin, a digital token whose value depends more on internet attention than on specific use, is divisive even within crypto circles. For example, Elon Musk's favorite Dogecoin has a market value greater than 94% of S&P 500 companies, despite having no product or business model. Recently, Chris Dixon of Andreessen Horowitz even criticized meme coins for undermining the understanding of the utility of the sector. If you're looking for a reason to claim that cryptocurrencies are a scam, you'll likely find it in the pockets of the meme coin world.
