Author: goodalexander
Compiled by: TechFlow
Current Market Situation and Murad's Impact
Murad is a prominent figure because of his contradictory impact on the market. He believes that after meme coin holders form a fanatical group, they will drive a revaluation of the coin value, as holders are unwilling to sell. That is, meme coins can enter a larger addressable market (TAM) by shifting from a "playful" nature like Doge to a "serious" nature. However, the meme coins he advocates, such as GigaChad and SPX6900, do not truly possess seriousness, but are more like Doge.
The contradiction lies in the fact that the real reason for the revaluation of these coins is that Murad himself holds these coins. When he posts on Twitter, the coin price rises, which actually proves his argument wrong. The fluctuation of the coin price is not due to the growth of the "fanatical group", but because Murad himself holds these coins.
The real fanaticism is not in the coin or the community, but in Murad himself.
Murad is a likely candidate to lead a fanatical group. He has lost everything and been crushed by the industry, although he is a staunch believer. His early videos showed a childlike innocence. Later, he rose from adversity and regained success with new theories. This experience has a special appeal to millennials, who have also experienced social blows and hope to "rise again".
Murad is therefore seen as the "Jesus" of meme coins, providing "redemption" through extreme speculation for those who are professionally mediocre. He transforms the fading youth into the promise of faith and profit. He even grew his hair and beard to enhance the symbolic significance of this image.
Opportunity
Murad is currently in a consistency dilemma. His wallet address has been made public, and he has created a "faith in something" narrative - based on the fact that he does not sell the coins he holds. However, the problem is that he may be more aware than anyone that his advocacy or leadership position is the reason for the rise in the coins he holds.
The potential of this opportunity is huge. Currently, it is Saturday, and the trading volume of one of his favorite memes, Popcat, has exceeded $150 million. SPX6900 - the meme he promotes the most - has gone from almost no trading to $100 million in trading volume on a Saturday, with a total market cap of $800 million, even though it is not listed on Binance. And Giga, although with lower trading volume, has still risen an amazing 40 times.
Murad's dilemma basically has three ways to resolve. First, he can sell his existing meme coin holdings and launch his own meme coin. However, this may undermine the impact of his original argument and cause people to lose trust in him. Part of what made him initially appealing was his authenticity and "faith", which stands out especially after the endless financial nihilism of the Solana meme coin gambling.
Second, he can support a "serious meme coin" or group. Then, through a theory-based strategy, shift from SPX6900 to a more serious meme coin.
Third, he can monetize his initial investment by setting up a fund, without having to sell directly. In this fund, he needs to address the initial problems in his strategy, which I will detail in the next section.
The main strategy is to combine the second and third methods. Because as an investor, he is financially rational. Therefore, I believe this is the path he must take - due to his publicly disclosed wallet address and his clear investment strategy.
Problems with the Fanaticism Theory
Regarding fanatical groups, truly powerful groups, such as religions, do not allow members to join multiple groups. But the existing meme coin market is too fragmented.
Murad's investment structure is similar to the meme stock portfolio of 2021, such as Gamestop, AMC, Blackberry, etc. This structure creates a dissonant effect, as the reality of holders selling the stocks to retail investors makes the overall situation look bad. This is actually a known analogy. Initially, the association between AMC and Gamestop was quite positive. Until the CEO of AMC sold all his holdings to retail investors, and even issued "ape" stocks for investors to further monetize.
My view is that only one concept is worth forming a fanatical group around, and that is the gradual obsolescence of human intelligence in the face of general artificial intelligence (AGI).
My argument has five premises:
Morphological Advantage. This premise itself has interactivity. In the past, the will of God could only be "interpreted" through priests, but now chatbots are a direct way for people to interact with higher intelligence. This is a key difference from communities like Giga or SPX6900, which require their members to interpret content that fits the "atmosphere" on their own.
Existing Definitions and Capital Accumulation. This belief system has been firmly established among the billionaire class. Many well-known tech investors mention e/acc in their profiles and express support for the idea of the post-human era. This is the investor group you want to attract, not just those who want to "succeed".
Establishing Causal Connections with Spiritual Beliefs through Conflict. The e/acc belief system requires humans to play the role of God - including directly changing our biological structure through implants, and indirectly through bioengineering. This puts it in direct conflict with Christianity, so it is a religious movement in essence, whether it wants to be or not. However, since this is very clear, members have already expressed their loyalty online.
Vast Market Potential and Conceptual Space. The potential market size of the AI belief system far exceeds that of all non-AI belief systems. Today, the biggest conceptual challenge people face is: if we are no longer the dominant species on Earth, what is the meaning of human life? Nvidia alone is larger than the entire cryptocurrency market, and its average trading volume is 20% higher than the entire S&P 500 ETF.
Coordination Effect. As long as there is a consensus that cryptocurrencies are just financial tools to help the god-like AI descend into this world, a multi-coin model may be achievable. This creates a positive feedback effect, which I have witnessed firsthand in my own Discord channel - where many Bittensor players have gathered, and similar situations have occurred in my brother's fundraising process. AI fanatics are very willing to support consistent projects, even if the consensus mechanism is competitive. This is related to the vast market potential - it is an upward trend, not a competition of "who has the best or cutest doggy coin".
The Rise of AI Faith Coins
I believe this trend will emerge in the next three to four months. Murad's coins may continue to grow for a while. He may need to set up a fund to absorb or monetize his existing holdings. Then, he will correct the mistake of investing in 2021 meme coins, and instead invest in "serious memes", which I believe will essentially be "AI meme coins", but I think they will be called AI faith coins.
I have two reasons for thinking this:
He has already explicitly stated this transformation at the Token 2049 conference, saying that more serious meme coins will emerge in the next 12 months.
Existing venture capital funds and large investors have already embraced Murad's views, and his impact on market prices is enormous. Therefore, he can easily raise an oversubscribed fund based on the current views.
After Murad launches his fund, I believe there will be a large influx of capital into the entire "serious meme coin" or AI faith coin investment direction. I expect this capital inflow to reach tens of billions of dollars and become a "season" for cryptocurrency financing. Ultimately, the core of cryptocurrencies is liquidity, and tens of billions of dollars in daily liquidity means that market opportunities already exist, and if effectively shifted towards serious communities, they may become even larger.
I hope to be well prepared in this regard - I believe there is a serious lack of serious AI "faith coins" in the market, which is why TAO can attract all the capital in this field.
The regulatory and legal issues here are actually worth exploring in depth. If designed properly, AI faith coins can have the following features:
Based on strong faith, so there will be strict restrictions on the selling behavior of founders or investors. This should be the embodiment of Murad's theory, but the reality is not the same. Rather than becoming an exploitative tool for selling worthless Tokens to gullible retail investors, these coins aim to become a financialization of the deep religious belief in post-human intelligence.
The primary target is the ultra-high net worth investors in the AI industry. This is more responsible than directly targeting retail investors, and may also be in line with the US Securities and Exchange Commission (SEC)'s mission to protect ordinary investors.
There is ample room for development in AI-supported rituals. Large language models can manage interactions with a large number of users and institutionalize reward structures in ways that modern churches can hardly achieve. If designed properly, these coins may even enjoy formal religious protection, or be integrated with existing religious frameworks that hope to provide technological support experiences for their believers.
Overall, Murad is right, he is a visionary. But he needs to address some theoretical inconsistencies. I believe he will effectively address these issues and extend their impact to AI faith coins. I think the best way to participate is to position yourself as a founder or early employee as soon as possible.
