Meme coins DON’T justify their valuation. That’s why they’re called meme coins.
I don’t think they do.
They seem to play on cultural references “for the lolz” and sometimes some pointless competition e.g “screw meme A buy meme B!”
Thinking about it I don’t understand why, given the now unpopularity of Elon and his gvt stuff, the meme coiners aren’t going all out on CATE to spite DOGE. That would actually be hilarious to see in the papers!
But again to answer the question - they’re a joke gamble, like picking a horse with a funny name regardless of its form.
It is a Ponzi scheme, my friend. The point is irrational belief that they could have value somehow.
Same as every currency
Pre-Elon Doge coin was just for the shits and people would freely pass them around as internet points.
I literally can’t recall a single other meme coi-oh, except Coinye West because that lawsuit was hilarious.
Just like Bitcoin and Ethereum, memecoins are bullshit.
I hate to break the news to you but Bitcoin and Etherium are worth real money for exactly the same reason as meme coins.
It’s meme coins all the way down.
Everyone “knows” its a scam; furthering the delusion is the way to work the scam.
Who cares
