The post Next Presale to Explode as Meme Coin Market Destined for Long-term Growth appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. In a recent interview, Ki Young Ju, the CEO of CryptoQuant, drew interesting parallels between the crypto meme coin market and the art industry. As per Young, both these markets aim to draw valuations of an intangible instrument through narrative and market hype. Meme coins are often based on a popular meme, incident, or personality. Similarly, the value of a painting is derived from the story and artist behind it. Defending the ‘scam’ criticism often associated with meme coins, Young said that if literal comparisons are drawn, the art industry should also be termed as scammy. Memecoins were the most popular trend among investors in 2024, reaching a total market capitalization of $101B. Interestingly, though, approximately half of this is attributed to $DOGE. All in all, meme coins were able to capture 30.67% of global investor interest during the last year. However, this also brings the problem of plenty to the table. During the previous altcoin bull run in 2017-18, there were only 3,000 altcoins. However, today, the market is flooded with as many as 36.4M coins – the supply has become more than the demand. This has changed market sentiments, and we may not see an altcoin run anytime soon. According to Young, only crypto coins with strong narratives and use cases will survive in the markets right now. This makes it important for investors to pick the right assets. Although you could try and hit a blind home run by putting all your eggs in one basket, that’s unarguably a very risky approach. In an oversaturated and overwhelming market like this, moderation is the key, which is why we present to you Meme Index ($MEMEX). What is $MEMEX? Meme Index ($MEMEX) is a one-of-a-kind token that allows the holder to invest…

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Filed under: News - @ January 27, 2025 4:27 pm