Solana meme coins experience a surge despite the decline in the cryptocurrency market.

According to CoinGecko data, the meme coins segment is outperforming other cryptocurrencies. This stands in stark contrast to the broader cryptocurrency market, which has experienced more restrained performance.

Analytics platform Cryptonary has observed a current market enthusiasm for meme coins, although this market segment comes with its own risks. For instance, the I Like This Coin (LIKE) project initially raised about $7.8 million from investors, but subsequently saw its value drop by more than half.

Lazzarin noted that meme coins undermine the long-term vision of cryptocurrencies that captivates many in the space, and are not particularly compelling from a technical standpoint.

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