Meme Coin God Murad Mahmudov: Memecoin Is Not Just A Speculative Asset

Murad Mahmudov discusses memecoins on the Wu Blockchain podcast. (Photo; Doc. WuBlockchain Podcast)

JAKARTA - The well-known figure in the meme coin world, Murod Mahmudov, expressed an interesting view regarding meme coins aka memecoin. In a recent interview on the Wu Blockchain YouTube channel uploaded on November 11, 2024. Murad Mahmudov argues that although memecoin is generally known as a speculative and volatile asset, there are a number of tokens supported by a strong community that can survive in the long term, such as Dogecoin.

Mahmudov explained that community strength is the main key that can make memecoin worthy of consideration as a long-term investment. He advised investors to be more observant about choosing memecoins with solid community support, as well as considering selling part of their holdings by the end of 2025 or early 2026. According to him, memecoins that can last for a long time are usually supported by diamond hands or committed investors who do not easily sell their assets at a time when the market is volatile.

Mahmudov also highlighted that global economic factors such as inflation and world monetary policy have a greater influence on the memecoin market than certain political events, such as US elections. Economic uncertainty, he said, often encourages interest in crypto, including memecoin, because it is considered a potential investment alternative.

In addition, Mahmudov emphasized the importance of transparency of crypto wallets for memecoin investors. With wallets that can be accessed by the public, token owners can show their long-term commitment, thereby increasing the trust of the community.

In terms of the blockchain ecosystem, it looks at the future of memecoins supporting multi-chain access. Solana was chosen for its low speed and cost, but Ethereum remains relevant for long-term development. Mahmudov also expects an increase in memecoin users from Asia, especially China, Korea, and Japan by early 2025, which could strengthen the global memecoin market.

Previously, Murad Mahmudov had expressed his views regarding memecoin at the Token 2049 event which was held in Singapore some time ago. Murad predicts that there will be a memecoin supercycle in the near future due to the inflow of funds that is bigger than before. This fund comes from middle class circles in various countries who want to leave their social class.

"Stop trading and HODL. Start believing in something (coin memes with a strong community), although most memecoins are just pump and dumps," Murad said. I don't focus on trading, don't focus on gaming, but I focus on coins that can be held for at least a year.

Murad added that investors who invest in memecoins do not actually invest in coins only but in their strong communities. According to him, a strong community is only in memecoins. Therefore, he advised meme coin lovers to become investors instead of being traders.