a big part of murad's early thesis around memecoins was the tendency for crypto founders to be extractors
tokenomics also provide messy incentives for founders - a 5 person founding team might get 70% of a token supply, they can all get rich without making anyone else rich
memecoins are the antidote - through rapid expansion/contraction they distribute wealth, there's little to no execution risk, no insider information to be traded on
IMO that's why memes can do well in bearish conditions (Pepe 2023, arguably DOGE, the trenches in general)
the death of memecoins has been greatly exaggerated
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a big part of murad's early thesis around memecoins was the tendency for crypto founders to be extractors
tokenomics also provide messy incentives for founders - a 5 person founding team might get 70% of a token supply, they can all get rich without making anyone else rich
memecoins are the antidote - through rapid expansion/contraction they distribute wealth, there's little to no execution risk, no insider information to be traded on
IMO that's why memes can do well in bearish conditions (Pepe 2023, arguably DOGE, the trenches in general)
the death of memecoins has been greatly exaggerated