TL; DR
-
Memes are just representations of trends in internet culture, and with meme coins the only thing that has changed is the way they are measured (market value instead of likes/shares).
Full story
Do you know which two items have contributed the most to modern e-commerce?
-
Beanie Babies (whose business made up the majority of eBay’s early revenue).
-
And books (see: Amazon).
Which may have seemed ridiculous and untenable at the time: Beanie Babies were a fad, while the Internet was the death knell for the traditional publishing industry…
And you wouldn’t have been wrong to think so!
They were both ridiculous and unsustainable, but they didn’t have to last for the long-term survival of online retail; they just had to get the ball rolling.
We look meme coins through a similar lens.
For example, Bitcoin’s price has reached its highest point since last month’s halving ($67,645), and that’s (in part) due to trading in Bitcoin-based meme coins, which only became available on the network late last year launched. last month.
And it’s a pattern we’ve seen play out many times before, first on Ethereum and more recently on Solana.
The takeaway:
If you think meme coins are stupid, well…
You’re right. They are.
But that does not mean that their contribution to market prices should be discounted.
Memes are just representations of trends in internet culture – and with meme coins, the only thing that has changed is the way they are measured.
Instead of likes, shares and comments, it is now market value.