When the market returns, memecoins will win again

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Are memecoins dead? As a big fan of utility tokens, I’d so much like a factual answer to be YES. But NO. Simply, NO…not even hard to see. While your utility tokens are wallowing in their usual daily -20%, memecoins are the only ones still putting up the numbers. Right, thousands of them are dead, you can say the same about utility coins, some of which are chilling in your wallet. Memecoin bagholders and utility token bagholders, there’s a pattern here… It's the same thing.

The argument that memecoins ruined the market is very right. I mean, the random retail investor already lost 70% of their capital to some tokens whose name you’ll struggle to pronounce. Well, this is not why your utility coins tanked; they tanked because other holders lost patience and sold them to pursue some trendy memecoins…the project team members probably did the same.

Now that memecoins are having a hard time, they are being pronounced dead. Not even reasonable when Swasticoin ($YZY) just did 10X, and $DOPE went from zero to a $10 million market cap. The list is long, you can always see for yourself. Apart from new utility coin launches that are still enjoying their welcome from KOLs and a few thousand investors, memecoins have actually outperformed the rest of the market…in general.

So, this article is technically meant to say that memecoins are not dead and will still have a run in a healthy market. That’s it, you can stop here because the next paragraphs are only going to explain why.

Alright, why? Well, because the crypto space has been reduced to a gambling room. Every investor wants to make profits, and they want to make them as soon as possible. Another narrative, which isn’t really a fact, is that memecoins are only designed to fuel greed and have succeeded for the same reason. Altcoins achieved so much success because they were tipped as a more profitable venture, relative to Bitcoin. Remember the 2021 comparisons of Bitcoin and Altcoin Year-to-year price growths? This has played a role in the progress of Utility coins since they became a thing. The regular investor will run to what promises the most profit. In the contemporary crypto market, the cleverest investor is one who is smart enough to split their capital between memecoin, Utility Coins, and a little bit of Bitcoin.

Again, memecoins are fun, the good ones are even great…no doubt. Talk about memecoin launchers running scams; utility token development teams have also ripped investors in many cases. While this in no way supports rug pulls and other crazy misdeeds that plague memecoins, it clearly states that both categories are (almost) equally caught in wrongdoings. A popular defense for memecoins is that utility coins are not fair. 50% allocation for project team…uh.

Memecoins, when done right, create a fair distribution system for investors. In the real sense, this is hard to achieve with memecoins. Currently, it is chaos. Some of the chaos is reduced when the dev is done dumping on the investors and the community takes over and revives the project from near-death conditions. Even after that, they still need to face a lack of commitment from holders, MEVs, and the other hidden wallets belonging to the dev. It's chaos; memecoin and utility tokens. Probably why both of them are wallowing in crashes while Bitcoin stays above $80,000.

Utility tokens, what utility? It might sound like an easy one to answer, but taking a look at 95% of utility tokens will prove that it’s a brain-cracker. The gimmicky and sometimes non-factual whitepaper, unfair reserves for the team, unattainable roadmaps, market manipulation, fake partnerships, and insider trading. I think utility tokens have had their fair share of irregularities… if we are being fair.

When the market returns, the casinos will be open again…they never really closed. This time, maybe even more. If you think retail learned their lessons, wait until the next ‘celebrity’ drops their memecoin. For utility coins, the good projects will win, regardless. And no, I don’t have any suggestions of good projects to invest in; I wouldn’t be 90% down if I did.

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