Cryptocurrency analyst Murad Mahmudov predicted a “meme coin super cycle” in a speech at the Token 2049 conference in Singapore, arguing that these tokens are outperforming traditional cryptocurrencies and are poised for significant growth.
What Happened: Mahmudov pointed out that meme coins are already dominating the market, with 13 out of the top 20 outperforming tokens being meme coins. He attributes this trend to both internal and external factors within the crypto space.
He emphasized that meme coins enable “poor holders to get rich who subsequently become unpaid full-time evangelists for the project,” creating a more organic and passionate user base compared to traditional altcoins.
He challenged the notion that meme coins lack utility, stating, “Meme coins are not a vampire attack against crypto tech, meme coins are vampire attack against crypto …
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