Hey guys, I'm inclined to believe that memecoins are generally fueled by community hype and even KOL or celebrity figures. The recent of these peculiar example I can remember is SLERF.
What seems to both catch my attention and puzzle me is when memecoin tend to have utility. Yesterday I saw Catamoto which I knew as a memecoin were now having DeFi functionalities and were even forging strategic partnership with big names like BlueZilla.
My question is, do project like these stop being a memecoin? Can this be a DeFi platform with its memecoin or just a memecoin forever? What is the threshold? Are there others like this?
Cheers guys
I understand and agree with your caution regarding the hype in cryptocurrency. Only a few concepts in the cryptocurrency space will succeed, particularly those that fulfill a genuine need and have a strong platform. However, I believe that gaming and gambling tokens will continue to thrive, regardless of the bear market and downturns.