Written by: Alex Xu
What I question is Murad's excessive packaging and beautification of the grand narrative of the MEME cycle;
Murad has been very popular recently, but he can only say that one generation of version is one generation of god. Murad's entry into the crypto industry is not very early (2016), and his past investment experience is also not very successful (Adaptive Capital, which he founded in 2019, went bankrupt a year later in 312). However, this year he has begun to find his main task for this cycle: the construction of the MEME narrative. As he himself said: "At the beginning of 2024, I began to try to understand MEME coins from the perspective of first principles."
In June, he began to share his MEME trading experience and targets in the community, and over the next 3 months, he gradually completed the famous "list of MEME targets that will explode in the next super MEME cycle". With the emergence of the wealth code represented by SPX from this list, combined with Murad's speech on the "super MEME cycle", Murad has gradually become the new generation of MEME god.
Murad's core viewpoint
In Murad's speech on the "super MEME cycle", he put forward some "seemingly sharp" viewpoints, which constitute the logic of the arrival of the MEME super cycle:
The value coins invested by VCs have oversupply, and the valuation is getting higher and higher, with unsatisfactory price performance
Value coins are the product of VC conspiracy, and retail investors can only take the bag
Value coins have a ceiling on their valuation due to their relatively clear business model
Whether it's value coins or MEME tokens, they are all tables in the casino, so why not create your own table to play
MEME coins are more pure than value coins, because they only need to focus on "community" and "tokens", while value coins also need to take care of software development and operations
MEME coins provide: fun, reduced loneliness, identity recognition, hope, friendship, participation in frontier culture, a sense of belonging, team collaboration experience in the crypto industry, stronger participation, resonance, emotional connection, a sense of mission and meaning, entertainment and happiness, and they even drive charitable causes, collective artistic expression, collective imagination of reality, story creation and legend building
VCs don't like MEME coins because they threaten their core business: selling air
In addition, in another interview, Murad also gave the screening criteria for MEME:
Market cap between $5 million and $200 million
Located on Solana and Ethereum
At least 6 months of history
Yes, these criteria seem broad and random.
Rational and objective view
I don't intend to criticize Murad's criticism of VC coins, he's not wrong, it's just a bit clichéd, and the market has already punished the inferior VC projects through the decline in market value and the large number of projects that are launched and immediately break the issue price (no secondary market support). What I question is Murad's excessive packaging and beautification of the grand narrative of the MEME cycle.
The so-called "creating your own table to play", retail investors actually have no ability to "build their own table and take money from the table".
The so-called MEME coins providing identity recognition, frontier culture and a sense of belonging, can investors still experience these emotional values on the zeroed MEME projects, apart from the pain of investment losses?
I think it's bullshit.
Like most useless VC coins, what makes MEME successful has never been the "community culture" that is high-sounding, but the machinations of market makers like Gobit, who have recently paid millions of dollars in fines to the FBI for market manipulation, and the close collaboration of KOLs like Murad who stand in the spotlight.
Who is more advanced than whom?
