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The rise of memecoins is gaining momentum in the cryptocurrency world as enthusiasts embrace the trend. Vitalik Buterin advocates for memecoins that support public goods and create engaging projects. Memecoins are seen as more than just a passing fad, with some viewing them as a new asset class and a form of sociopolitical protest. The community anticipates the launch of significant NFT projects on Layer 2 networks, further fueling the memecoin craze.