Changpeng Zhao, the former CEO of Binance, has called for the crypto community to move away from memecoins and focus on developing genuine blockchain applications. In a recent post, he expressed his concerns about the increasing oddity of the memecoin ecosystem, which he feels has shifted away from humor to something more troubling. Despite the ongoing hype around popular memecoins like Dogecoin and Shiba Inu, interest in these projects is waning as the market seeks valuable, utility-driven projects. Zhao's followers largely support his shift in focus, although some critics have pointed fingers at Binance for its role in listing memecoins with questionable utility. Meanwhile, the memecoin market continues to flourish, boasting a market capitalization of approximately $110 billion. Recent controversies, including serious incidents involving users on platforms like Pump.fun, further highlight the challenges in the memecoin space. Despite these issues, the allure of memecoins remains strong, making the call for a shift to real blockchain applications even more urgent.

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