In 2013, the launch of a dog-themed crypto token as a private joke between a couple of software developers was a harmless piece of fun. The fact that Dogecoin (DOGE) has since amassed a market capitalization greater than $13 billion (as of Dec. 13) is beyond the understanding of most investors, but it seems like it’s here to stay. The sector that DOGE has inspired, though, is becoming a menace to an industry that needs to evolve.

Memecoins are dangerous. They are dangerous because the large majority of those who put their money into them never see it again; they are dangerous in the way they damage the credibility of the entire cryptocurrency industry; they are dangerous in the way…

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