Memecoin

Jupiter

Shiba Inu

<p class="is-style-lead">Jupiter’s founder said memecoins could be a gateway for attracting new Web3 users en masse and an on-ramp for understanding the larger cryptocurrency stack.</p> 
<p>According to Jonathan Oggiono, commonly known as “Were Meow,” Solana <a href="https://crypto.news/?s=MEMECOIN" target="_blank" rel="">memecoins</a> and similar tokens on other blockchain networks herald a new user value proposition paradigm.&nbsp;</p> 
<p>“In the web2 era, it was all about user-generated content. In the web3 era, it’s all about user-generated money,” said <a href="https://x.com/weremeow/status/1800107436474601750" target="_blank" rel="">Oggiono</a> via a June 10 thread on X.</p> 
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   <p lang="en" dir="ltr">Memecoins are user generated money</p>— meow 喵 (@weremeow) <a href="https://twitter.com/weremeow/status/1800107436474601750?ref_src=twsrc%5Etfw" target="_blank" rel="">June 10, 2024</a>
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<h2 class="wp-block-heading" id="memecoin-mania-2024">Memecoin mania 2024</h2> 
<p>Meme tokens, especially on Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="">SOL</a>) and Base, have all but claimed the spotlight in this year’s market uptrend alongside institutional adoption like spot Bitcoin ETFs.&nbsp;</p> 
<p>While skeptics <a href="https://crypto.news/vitalik-buterin-calls-for-higher-quality-meme-coins/" rel="">scrutinize</a> the so-called ‘casino behavior,’ users speculate on the memetic crypto market. Some traders have turned a few bucks into hundreds of thousands of dollars; others have even made millions from early-stage memecoin investments.&nbsp;</p> 
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   <p lang="en" dir="ltr">In less than 4 months, this <a href="https://twitter.com/hashtag/MEMEcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#MEMEcoin</a> trader turned $6,758 into $4.2M, a gain of 619x!<br><br>He spent 2.13 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$ETH</a>($6,758) to buy 20.95B <a href="https://twitter.com/search?q=%24Kendu&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$Kendu</a> from Feb 24 to Mar 1 and has held it until now, currently worth $4.2M!<a href="https://t.co/9gtcNpZ54v" target="_blank" rel="">https://t.co/9gtcNpZ54v</a> <a href="https://t.co/OvrifB7TOq" target="_blank" rel="">pic.twitter.com/OvrifB7TOq</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1800047922161303972?ref_src=twsrc%5Etfw" target="_blank" rel="">June 10, 2024</a>
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<p> You might also like: <a href="https://crypto.news/are-memecoins-the-new-nfts-for-celebrities/" rel=""> Are memecoins the new NFTs for celebrities? </a> </p> 
<p>New projects such as Dogecoin (<a href="https://crypto.news/price/dogecoin/" rel="">DOGE</a>) and Shiba Inu (<a href="https://crypto.news/price/shiba-inu/" rel="">SHIB</a>) have also challenged market leaders from previous cycles. </p> 
<p>Per CoinGecko, new tokens like Dogwifhat (<a href="https://crypto.news/price/dogwifhat/" target="_blank" rel="">WIF</a>), <a href="https://crypto.news/brett-memecoin-hits-1-billion-market-cap/" target="_blank" rel="">Brett</a> (BRETT), Book of Meme (<a href="https://crypto.news/price/book-of-meme/" target="_blank" rel="">BOME</a>), and Dog.Go.To.The.Moon (DOG) broke into the top 10 memecoins per market cap within weeks to months of launching.&nbsp;</p> 
<h2 class="wp-block-heading" id="diving-into-web3">Diving into web3</h2> 
<p>Oggiono also opined meme protocols are positioned to offer first contact with the broader web3 ecosystem. Jupiter’s founder believes memes can open a deeper understanding of crypto infrastructure, decentralized finance (defi), and even more niche sectors like real-world assets.&nbsp;</p> 
<p>The remarks echo sentiments shared by Solana co-founder Raj Gokal at Consensus 2024. As crypto.news reported, Gokal <a href="https://crypto.news/solana-co-founder-memecoins-intuitively-onboard-users/" target="_blank" rel="">stated</a> that crypto meme projects could “intuitively onboard users.”&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/solana-memecoin-dev-sets-self-on-fire-master-marketing-or-madness/" rel=""> Solana memecoin dev sets self on fire: master marketing or madness? </a> </p>

Jupiter founder: Memecoins are user-generated money

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