Original author: , compiled by Followin.
Miles Deutscher
Memecoin shill king, analyst Murad 's recent speech at TOKEN2049 sparked a memecoin craze. His speech video has received 1.8 million views on X.
His presentation will change your entire perspective on cryptocurrencies (and potentially earn you big bucks).
Next, we will extract @MustStopMurad 's meme coin investment theory in text form. ( Some netizens added Chinese subtitles to this video )
1. Murad began his speech by highlighting the outstanding performance of meme coins so far in this cycle
“The meme coin cycle is not a prediction, it has already begun — meme coins dominate on nearly every metric.” 
2. “Other assets will no longer rise in sync with Bitcoin.”
Only 43 tokens outperformed $BTC in 2024, 13 of which were meme coins. Of the top 10 performing tokens, 8 were meme coins.
He stressed that this cycle is very different from other cycles. 
3. Why do meme coin cycles happen?
Murad listed the reasons why meme coins are gaining more attention than utility-oriented Altcoin.
This is largely due to overproduction of tokens and overvaluation. 
4. “Memecoins are an advanced version of Altcoin.”
Meme coins surpass Altcoin because they offer what retail investors truly crave: community, identity, and excitement, not just potential returns.
This is not just speculation, it's culture. 
5. People generally believe that meme coins have a lot of practicality
Beyond speculation, meme coins provide fun, community, and emotional connection.
They provide real value through shared culture, belonging, and purpose. 
6. “Stories create trends and spark movements.”
Success stories of tokens like $WIF and $PEPE achieving massive gains went viral, fueling hype around meme coins and attracting more interest.
This is how trends become movements. 
7. Historically, the strongest performing cryptocurrencies tend to be those with “belief” ($BTC, $ETH, $XRP, $ADA, $LINK, $DOGE, $SHIB, $TAO), and meme coins embrace this directly. 
8. The Altcoin market is about to see a large amount of unlocking.
In the next five years, $155 billion worth of VC Altcoin will be unlocked, and venture capital firms cannot fully accept the meme coin theory because it will pose a threat to the valuation of VC Altcoin. 
9. The meme coin market still has huge room for growth.
Its market cap is still 20x smaller than the broader Altcoin market and represents just 25% of the total value unlocked in Altcoin from 2024-2029. 
10. Ultimately, “Altcoin are just meme coins with a few extra steps. 
11. Most Altcoin do not want to share revenue because it would expose the true value of the token.
They actually need the meme premium to support their inflated market capitalization. 
12. “The performance of Binance listings continues to be sluggish.”
Almost all Altcoin listed on Binance this year are trading below their listing price, with only two exceptions: $WIF and $JUP.
WIF is a meme coin, and Jupiter is a platform that facilitates meme transactions. 
13. Think about it. Ultimately, what do retail investors care about?
Retail investors don't care about technology.
They care about making money (70%), having fun (20%), and feeling a sense of belonging (10%). 
14. Ultimately, cryptocurrency is speculation first and technology second.
“Cryptocurrency is built on speculation.”
Most tokens and projects that find product-market fit are driven by speculation.
Meme coins intuitively embody this speculation. 
15. Meme coins are like the 2017 ICO craze reborn, just in a new form.
Unlike ICOs, now we have meme coins where investors can get in early at low valuations, unlike Altcoin where most of the gains have been captured in the private market. 
16. “New, quirky, and misunderstood assets tend to perform the strongest.”
Meme coins are difficult to value due to their lack of fundamentals. However, Murad believes that it is this very characteristic, as well as their “weirdness,” that will drive their outperformance, just like the different narratives in previous cycles. 
17. “The best meme coins are turning into mini-religions.”
Meme communities often become like religious beliefs, prompting investors to hold on tight. This is exactly what drove $DOGE and $SHIB to astronomical valuations in 2021. 
18. Murad summarizes the fundamental appeal of meme coins.
Importantly, “meme coins are easy to understand.” 
19. At the end of his speech, Murad made some predictions about the future of cryptocurrencies and meme coins. 
The speech has already had an impact on the market, spawning one of the strongest memecoin runs of the year, with “Murad coins” like $SPX and $GIGA experiencing significant gains.
These wild speculations and price targets resonate with retail investors, and frankly, may be just what’s needed to lure new people in. After all, greed is part of human nature — and an effective sales tactic.
Murad’s arguments have attracted thousands of market participants, quickly making him a well-known figure in Crypto Twitter (CT). Meme coins are religions, and Murad is seen as a “leader” of sorts.
