cryptofamily

Why are memecoins so popular and is it possible that we are really in for a "memecoin supercycle"?

Right now, hundreds of memes are being born whose capitalization marks will soon exceed a billion. People buy memes at any stage of their journey and get life changing cases, due to their huge volatility and the phase of the market in which people greedily buy everything they see.

For an example, let's look at the chart of Tick Tock Squirrel (https://dexscreener.com/solana/gzdvsyajtfkutmaxcqtwbpkh1rsqt8vkfgjwdg1f62u8), which showed a correction of over 90% after each new peak. In this case, the old holders keep their positions and do not fix losses, especially if we are talking about a small position size.

By the way, during the last 24 hours such correction occurred in recently added to CoinMarketCap (https://coinmarketcap.com/currencies/solito/) meme-coin Solito (https://dexscreener.com/solana/8xycc4bidf9ddthptfeaeopgcj5dzeerqolvmqayhvzt), which fell by 90% only once. The reversal has now occurred, and we will probably see a continuation of the rise in the coming days.

If you want to learn more about the term "memecoin supercycle" and all the arguments in favor of the upcoming growth of memcoins, I suggest you read Murad Makhmudov's speech (https://www.youtube.com/watch?v=6nqzwdGxTGc) at the TOKEN2049 conference.