Arthur Hayes, co-founder of BitMEX, and Vitalik Buterin, have recently voiced their support for memecoins, arguing against the quick dismissal of these assets as trivial or without value. Hayes highlighted that memecoins could add "positive value" to blockchain networks, citing Solana and Ethereum as particularly well-positioned to benefit from the attention and capital memecoins can bring. Buterin, on the other hand, suggested that memecoins could play a role in funding public goods. The discussion around memecoins has intensified, with some industry observers comparing the current enthusiasm to past speculative manias like the 2017 ICO bubble and the NFT craze of 2021. Despite the skepticism surrounding their long-term viability, proponents argue that memecoins represent an accessible form of speculation and could lead to the emergence of new crypto protocols and projects.