In Defense of Meme Coins

I don’t necessarily think meme coins should be celebrated, particularly not for the reasons most often given. At this point in the cycle, it’s clear tokens – even “blue chips” like shiba inu (SHIB) or dogwifhat (WIF) – aren’t really bringing in new adopters; at least not yet. I think it’s dubious to suggest that the “communities” that form around investing in meme coins are at all long term sustainable. And it’s, of course, irresponsible to suggest these tokens are creating “generational wealth” for people.

Meme coins are what they are: highly speculative investment vehicles. That there appears to be a near endless amount of interest and capital to plow into them essentially proves that “speculation is a use case,” no matter whether you agree with the sentiment there.

Source: In Defense of Meme Coins