Memecoin 79B USD rally exposes crypto’s divide: builders vs. speculators

The memecoin 79B USD rally, a 43% surge from $55 billion in late June to a record $79 billion by mid-July, has reignited a fierce debate about crypto’s future, pitting bullish retail investors against wary industry builders.

Proponents see it as a sign of retail enthusiasm, while critics warn it undermines the industry’s credibility.

“If anything, I see an inverse correlation between the success of this industry and the memecoin market cap because it reads that capital doesn’t have anywhere better to flow,” — Anthony Anzalone, CEO of layer-1 blockchain Xion, told journalists.

The memecoin 79B USD rally, fueled by presale hype and Solana-based launchpads, has become a litmus test for crypto’s maturity.

With Bitcoin hitting all-time highs, the question remains: Are memecoins a harmless byproduct of a bullish market or a threat to blockchain’s long-term goals?

“They destroy crypto’s reputation”: Builders push back

For developers and entrepreneurs like Anzalone, the memecoin 79B USD rally represents a step backward.

“Memecoins do a phenomenal job at destroying the reputational work many builders have put in toward legitimizing this industry,” he said, arguing that the sector’s growth distracts from real-world use cases.

The sentiment echoes concerns among traditional investors and regulators, who often dismiss crypto as a speculative playground. Despite the memecoin 79B USD rally, Anzalone insists the sector’s success doesn’t reflect progress in decentralized finance or Web3 adoption.

Memecoins are “hot, marketable, and crypto-native”: Defenders strike back

Not everyone views the memecoin 79B USD rally as a negative. S, community lead for Neiro memecoin, argues that the sector is evolving beyond mere speculation.

“Definitely, memecoins are a very crypto-native category. As soon as there’s market positivity, the warriors in the trenches rush to deploy capital,” S told journalists, citing projects like Pudgy Penguins and Floki that blend memes with utility.

S also dismissed criticism of the memecoin 79B USD rally, calling memecoins an “antithesis to convoluted, VC-driven tokenomics.” Retail investors, they argue, are drawn to assets that are “hot, marketable, and easy to understand.”

Bullish sentiment fuels the memecoin 79B USD rally

Petr Kozyakov, CEO of Mercuryo, attributes the memecoin 79B USD rally to shifting market psychology.

“Whatever your view on these tokens, they’ve gained an army of loyal followers who value participating in their journey,” Kozyakov told journalists.

He pointed to the $500 million PUMP presale frenzy and Bitcoin’s price surge as key drivers.

While Kozyakov avoided predicting the memecoin 79B USD rally’s longevity, he confirmed the mood had “undoubtedly flipped bullish.” Whether this momentum sustains—or crashes like previous memecoin cycles—remains to be seen.

Key Takeaways:

• The memecoin 79B USD rally has divided crypto leaders, with builders calling it a reputational risk and supporters praising its community-driven appeal.

• Critics like Xion’s CEO argue memecoins divert capital from meaningful innovation, while Neiro’s S insists they’re a legitimate part of crypto culture.

• Market sentiment, fueled by Bitcoin’s rally and presale mania, continues to drive the memecoin 79B USD rally, but sustainability concerns linger.