Solana Founder Critiques NFTs and Meme Coins as Lacking Intrinsic Value

Solana co-founder Anatoly Yakovenko criticized meme coins and NFTs as “digital slop” with no intrinsic value, despite their significant role in Solana's ecosystem revenue. He compared these assets to mobile game loot boxes, noting that $150 billion is spent annually on gaming.

Meme Coins and NFTs Debate

Yakovenko stated that meme coins and NFTs lack inherent value.
Base creator Jesse Pollak argued these digital assets hold value similar to traditional art.
Yakovenko acknowledged meme coins' contribution to Solana's growth, likening it to Apple's reliance on loot boxes for revenue.

Impact on Solana's Revenue

Meme coins accounted for 62% of Solana’s decentralized app revenue in June.
Solana generated $1.6 billion in revenue in 2025, primarily from meme coin activities.

Technical Analysis of SOL

Analyst Ali Martinez highlighted a critical resistance level at $200 for SOL.
A breakout above $200 could lead to new all-time highs.
Current trading near $192 approaches the apex of a triangle pattern.
Previous price distribution shows thin activity between $200 and the last ATH zone.

SOL Price Chart with Indicators | Source: TradingView