Are we ignoring utility for memecoins? (Solana discussion)

I've been looking at the recent metrics on Solana, and it seems like 80% of the DEX volume is just memecoins like WIF and BONK. While the liquidity is great for the chain, aren't we worried that actual utility projects (like DePIN or orderbooks) are getting starved of attention? What are your thoughts on this cycle? Is utility dead, or will we see a rotation back to fundamentals soon?