Meme Coins Walk Fine Legal Line As They Gain Traction

Meme coins like Dogecoin are gaining legitimacy among institutions, but this could undermine their viral nature
Projects like Shiba Inu are building out ecosystems, marketing efforts, etc which raises legal issues with the SEC
Legal experts warn meme coins may fall under securities laws if teams make promises to boost token value
Early meme coins benefited from mining distribution, but new ones tend to have concentrated whale holdings
There's debate around whether meme coins can build legitimate use cases without being securities, but the legal lines are blurry