At the Modular conference, organized by the Ripio exchange in São Paulo, Brazil, Alexandre Guilherme, a researcher at Paradigma Education, offered his perspective on the phenomenon of memecoins or meme cryptocurrencies.
These assets, although speculative, are simple to understand and have a cultural appeal that makes them stand out in the market, He stated the Brazilian specialist.
During his speech, Guilherme stressed that, that The simplicity of memecoins to be understood makes them especially accessible.
He explained that “there are some slightly more subjective aspects, such as the ability of the mechanics of memecoins to be replicated culturally, given that their concept is easy to convey.
“It’s much more complex to explain how a lending platform operates than to say that a coin is about a dog with a hat or without a hat,” he said, referring to the popular meme cryptocurrency “Dogwifhat” (WIF).
Guilherme warned that memecoins can generate asymmetry of benefits. Despite this, Its simplicity and the ability for people to identify with it has been key to its growth..
There is a new category of memecoins on the market
An example of this boom is the emergence of a new category within meme cryptocurrencies, known as “PolitiFi,” as reported by CriptoNoticias.
These memecoins reflect the growing interest in the US presidential elections, with coins paying tribute to figures such as Donald Trump and Kamala Harris.
In 2024, its growth has been so significant that are competing with traditional memecoinscapitalizing on the political and creative humor of memes to capture attention and generate interaction in communities.
The popularity of this type of cryptoasset has also been demonstrated by the development of platforms that facilitate their creation, such as SunPump on the Tron network. At the end of August, the meme cryptocurrencies issued on SunPump registered an average price increase of 60%.
However, the specialist stressed that These cryptocurrencies can become popular overnight, although their value can also plummet quickly..
Unlike other cryptocurrencies whose value lies in their development or use cases, memecoins are primarily speculative assets that revolve around a community.
Their extreme volatility makes them one of the riskiest options within the cryptocurrency ecosystem, as they depend largely on sentiment on social networks and online communities.