Crypto analyst Murad Mahmudov argues that memecoins represent a new digital asset paradigm, driven by community beliefs rather than utility or technology.
What Happened: In an interview on the podcast “The Block Crunch,” Makhmudov called memecoins “vessels of tokenized faith,” saying that memecoins are becoming increasingly popular, especially among younger generations facing economic hardship. He said that they are absorbing society’s dissatisfaction.
Mahmudov compared Bitcoin BTC/USD to successful meme coins, noting that both have developed “hardcore communities” and “cult-like” followings. He tweeted a list of meme coins that he believes will see significant growth, including SPX6900 SPX/USD, Dogwifhat WIF/USD, Giga GIGA/USD, and Mog Coin MOG/USD.
Mahmudov downplayed the importance of memecoin utility in a bull market, saying, “Utility creates a bottom, but it also creates a ceiling.” Instead, he emphasized that community building and “free cult labor” are the main drivers of these coins’ success, predicting that meme coins that generate the most passionate community engagement will thrive.
Also read: This trader made over $5 million in profits with 4 different meme coins: Here’s how
Why it matters: Mahmudov’s perspective represents a shift in the perception of memecoins, elevating them from mere speculative assets to cultural phenomena. He estimates that 20 to 25 meme coin “cults” could reach valuations in the billions of dollars. He analyzes coins that last at least six months, survive significant price declines, and have strong decentralized communities.
Mahmudov also warned against “cabal coins” controlled by small groups and advocated for organic, decentralized communities instead. He predicts a shift from animal-themed meme coins to more full-fledged “movement coins” that could develop into a global ideology.
Makhmudov acknowledged the speculative nature of memecoins, but argued that with the belief and dedication of their holders, the vision of decentralized autonomous organizations (DAOs) could be achieved “even without a Treasury.” I am doing it.
Regarding POPCAT/USD, Mahmudov said that the current market is still in the accumulation phase and predicted that the coin could reach $5 soon. He calls SPX “the biggest mover of the cycle,” believes Giga is significantly undervalued, and predicts a parabolic rally by 2025.
What’s next: The impact of meme coins will be thoroughly explored at Benzinga’s Future of Digital Assets event on November 19th.
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