Jeo Boden

Dogecoin

April

Shiba Inu

Doland Tremp

<p>The memecoin market has been experiencing a remarkable ride to the top, thanks to some overwhelming gains experienced by some of these tokens. However, some market participants including Mechanism Capital co-founder Andrew Kang believe that a new class of tokens will outshine the regular ones. According to his <a href="https://twitter.com/Rewkang/status/1776851154221015382" rel="nofollow noopener" target="_blank">post</a> on X, Kang believes that culture tokens would be more profitable than the ones based on animals or simple jokes.</p> 
<h2 class="wp-block-heading" id="mechanism-capital-co-founder-discusses-culture-coins">Mechanism Capital co-founder discusses ‘culture coins’</h2> 
<p>In his post, the Mechanism Capital co-founder stated that these new culture coins, which are developed off cultural values like politics, religion, lifestyle, and brands can be more viral. He explained that these tokens could go ahead to outside the big tokens like Dogecoin and Shiba Inu of the last memecoin cycle. “Communities with strong values and identities naturally try to convert others to their beliefs and publicly display what it is they love about their lifestyle. They are inherently viral,” Kang said.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Culture Coins: A new class of Memecoins<br><br>You could consider all memecoins as coins of culture. Memes themselves are defined as elements of culture that are spread by individuals throughout the world. The first big memecoin, Doge was based on a famous internet meme itself and the… <a href="https://t.co/8ZANSXIdIQ" rel="nofollow" target="_blank">pic.twitter.com/8ZANSXIdIQ</a></p>— Andrew Kang (@Rewkang) <a href="https://twitter.com/Rewkang/status/1776851154221015382?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">April 7, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>He added that these communities could base their ideologies on certain beliefs like politics, sport, and way of life or they could make it a different mix of everything that he mentioned. The Mechanism Capital co-founder noted that two tokens, Jeo Boden (BODEN) and Doland Tremp (TREMP), built by communities harboring anti-woke and anti-right wing views have experienced massive growths out of their communities.</p> 
<h2 class="wp-block-heading" id="debates-and-perspectives-on-memecoins">Debates and perspectives on memecoins</h2> 
<p>BODEN has experienced a monstrous surge of over 700,000% since its launch on March 9. Presently, the token has a market cap of $587 million and is the 191st token by market value according to CoinGecko data.</p> 
<div class="wp-block-columns is-layout-flex wp-container-core-columns-is-layout-2 wp-block-columns-is-layout-flex"> 
 <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="flex-basis:100%"> 
  <figure class="wp-block-image is-resized">
   <img decoding="async" width="1170" height="594" src="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7656.jpeg" alt="Boden Chart" class="wp-image-508317" style="width: 100%;height:auto" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7656.jpeg 1170w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7656-300x152.jpeg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/04/IMG_7656-768x390.jpeg 768w" sizes="(max-width: 1170px) 100vw, 1170px">
  </figure> 
  <p class="has-text-align-center">BODEN’s price action since launch. Source: CoinGecko</p> 
 </div> 
</div> 
<p>However, TREMP, though has gained some traction, is not on the same level as BODEN. The token currently has a <a href="https://birdeye.so/token/FU1q8vJpZNUrmqsciSjp8bAKKidGsLmouB8CBdf8TKQv?chain=solana" rel="nofollow noopener" target="_blank">market cap</a> of $73 million. Aside from politically motivated tokens, Kang made an example of ZYN and MOUTAI, which are coins motivated by successful brands. He noted that these tokens could benefit from the success garnered by these brands. However, there has been somewhat of a division concerning memecoins and their benefits in the crypto sector.</p> 
<p>For instance, BitMEX co-founder Arthur Hayes recently <a href="https://www.cryptopolitan.com/arthur-hayes-memecoins-for-massive-growth/" data-type="post" data-id="504955">lauded</a> the positive impacts of these tokens on their blockchains. In contrast, other analysts have specified the risks associated with entering the ecosystem. Regardless of what the market thinks about them, the tokens have enjoyed quite the rise in the first quarter of 2024, with CoinGecko <a href="https://www.coingecko.com/research/publications/most-profitable-crypto-narratives" rel="nofollow noopener" target="_blank">data</a> stating that the top 10 memecoins had a cumulative 1,312% gain.</p>

Mechanism Capital co-founder predicts boom for ‘culture coins’

Table of Contents

Cryptopolitan_News

Other articles published on Apr 8, 2024

Bitcoin Soars to New Highs as Halving Event Nears

China’s Fund Submits Spot Bitcoin ETF Application in Hong Kong, Hints at Q2 Launch

Altcoins Hotlist: Expert Identifies Top 6 Coins To Track Amid Bitcoin’s Rise To $72,000

1.44 Trillion Shiba Inu in 24 Hours: Is SHIB Waking up Again?

Ethereum-based products record negative outflows for the fourth consecutive week

Bitcoin (BTC) Breakout Continues as Analyst Sees $85,000 on Horizon

Join our free newsletter for daily crypto updates!